Young families in Penrith will save thousands of dollars a year on childcare costs thanks to the NSW Government’s $5 billion landmark investment over the next decade to expand access to high quality, affordable care.
Under the reforms, a middle-income western Sydney family with one child in full-time childcare is expected to save about $3,900 a year, while the equivalent family living in regional NSW with two children in childcare is expected to save around $7,800.
Member for Penrith, Stuart Ayres MP said they were thrilled to hear that Penrith families are set to have access to affordable childcare.
“Improving the affordability and accessibility of childcare is a once in a generation economic reform,” Stuart Ayres said.
“This will benefit hundreds of families in our community that will be able to better balance work and family responsibilities.
“The NSW Liberals and Nationals are focused on building a brighter future for NSW and this childcare package is a clear example of us doing just that.”
Minister for Education and Early Learning Sarah Mitchell said early childhood education and care providers will be able to apply for funding to help deliver more accessible and affordable care.
“This is one of the most important things we can do to give children the best start in life, helping young children develop their social skills and open up lifelong opportunities from their earliest years,” Ms Mitchell said
“We will work with the sector on the detailed design of the fund to ensure it delivers the best outcomes for children, families and providers.”
The NSW Government’s investment will be made through the Affordable and Accessible Childcare and Economic Participation Fund, which will be established in this year’s budget.
The Fund will:
• Provide grants to childcare providers to expand infrastructure and establish new centres,
• Target areas with limited access to childcare centres or where a shortage of childcare places poses the highest disincentive to parents returning to work, Complement the Commonwealth’s demand-side childcare policy framework through flexible supply side funding,
• Invest $775 million over the next four years, and
• Trial new service models to meet the needs of modern families.
For more information go to https://www.treasury.nsw.gov.au/childcare-fund.