Childcare subsidy changes would give economy $7.6bn boost, report says

Study commissioned by Goodstart Early Learning says measure would bring an extra 29,000 parents into full-time employment by 2050

The government’s proposed childcare subsidy will get thousands of new parents into the workforce and pump an extra $7.6bn into the economy by 2050, a new report on the scheme said.

The PricewaterhouseCoopers (PwC) report, commissioned by Goodstart Early Learning, found the subsidy would have a positive long-term effect on productivity and on families themselves.

By 2050, an extra 29,000 people would be in full-time employment as a result of the payment, with approximately half coming from current workers increasing their hours and the other half from new workers joining the workforce, the report said.

Read More: The Guardian Australia