The Grattan Institute has released a new report calling on the federal government to implement reforms to make childcare cheaper in a bid to boost female labour force participation and economic growth:
Childcare should be made cheaper to enable more women to do more paid work, and to help lift the economy out of the COVID recession.
The Federal Government should spend an extra $5 billion a year on childcare subsidies. The payoff would be an $11 billion-a-year increase in GDP from the boost to workforce participation – and $150,000 in higher lifetime earnings for the typical Australian mother.
