Childcare providers hit pay dirt with Labor election win

Labor’s federal election win boosted the share prices of companies with exposure to the child-care, with Labor pledging an additional $5.4 billion to the sector that will raise subsidies as high as 90%.

Childcare comparison company Kindi­Care has estimated that the average family will save an extra $212 a week when Labor’s promised more generous childcare subsidies take effect. They are already saving $208 a week when compared to 2021 under the changes that the previous Coalition Government brought in just before the 21 May election.

However, Labor’s generous childcare subsidies do not take effect until July 2023, prompting the childcare sector to call on it to fast-track their implementation.