Economy and parents benefit from child care savings
Last week’s news that the provincial government is making child care more affordable is a step in the right direction. The Chamber has long advocated for accessible and affordable child care as a vital investment in our economy.
On Friday, the province announced that parents can expect to save as much as $550 in child care costs every month. The new funding will go directly to licensed child care centres so parents don’t have to apply. The savings will take effect in December, and help families with children who are kindergarten-aged or younger.
The savings build on earlier cuts to costs and are funded by the federal governments $3.2 billion agreement with BC.
Examples of how the program will help families and allow more parents to continue their careers include:
On Friday, the province announced that parents can expect to save as much as $550 in child care costs every month. The new funding will go directly to licensed child care centres so parents don’t have to apply. The savings will take effect in December, and help families with children who are kindergarten-aged or younger.
The savings build on earlier cuts to costs and are funded by the federal governments $3.2 billion agreement with BC.
Examples of how the program will help families and allow more parents to continue their careers include:
- A family with a 10-month-old and a three-year-old in group care could save as much as $11,940 more per year.
- A family with a two-year-old and a four-year-old receiving family care would see up to $10,080 more in savings each year.
- Source: gov.bc.ca
