Chief Executive Women welcomes the NSW Government’s $5 billion package to increase access to childcare. The investment will play a critical role in unlocking women’s economic participation by expanding existing centres, or building new ones, to create additional places for families to access early education and care centres around the state.
Accessible and affordable childcare was the key recommendation put forward by the women’s expert economic panel, chaired by Sam Mostyn AO, who is also President of Chief Executive Women.
CEW also welcomes steps to build a skilled workforce, with the early childhood sector currently facing critical sustainability challenges.
As President of Chief Executive Women Sam Mostyn said the landmark investment will create an additional 47,000 childcare places in NSW.
“We know access to affordable early childhood education is one of the most critical levers to enable women to participate in the economy. This is supported by economic modelling, as well as the lived experience of women and families.
“CEW has long called for accessible and affordable early childhood as vital to enable women’s workforce participation, advancement into leadership and economic security across their life course. The current lack of access and high cost of childcare creates significant roadblocks to parents’ choice to work or take up extra work.
“Through the NSW Government investment more families will have access to affordable early education and care, creating new opportunities for women to participate.
“Unlocking women’s economic participation is one of the most effective actions to boost the economy. CEW welcomes the investment that puts care at the centre of the NSW economy. This investment is good for productivity and economic activity, good for children and good for families.” Mostyn said.
CEW has long advocated for policy reform to help enable women to participate in the economy. CEW research, conducted in partnership with Impact Economics and Policy, shows that halving the workforce participation gap between men and women would unlock 500,000 additional workers into the Australian economy.
KPMG modelling shows that halving the workforce participation gap between men and women would increase Australia’s annual GDP by $60 billion by 2038.
Claire Morgan, Chief Executive Women E: email@example.com, M: +61 422 228 285