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Child care has just become cheaper for NSW families after laws to reform the sector passed Parliament recently .
Families across NSW will be able to access cheaper , high quality childcare after the legislation underpinning the Government ’ s landmark women ’ s economic opportunity reforms passed Parliament .
The NSW Childcare and Economic Opportunity Fund Act 2022 will drive up to $ 5 billion of investment in the sector over 10 years to support NSW families with access to childcare .
Treasurer Matt Kean said the legislation would provide long-term certainty to the sector and boost women ’ s workforce participation as part of the NSW Government ’ s $ 15.9 billion investment in childcare and early childhood education .
“ We have enshrined this fund into law to give more NSW families access to high quality , affordable childcare . Importantly , it will boost women ’ s economic security by dismantling the barriers for mothers wanting to take on more paid work ,” Mr Kean said .
“ These landmark reforms will help create new places in childcare deserts for parents who face the highest disincentives to work .”
The NSW Government ’ s investment in childcare and early childhood education , delivered alongside the Commonwealth ’ s childcare reforms , are expected to allow up to 95,000 women to enter the
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workforce or take on more hours and boost affordable childcare supply by up to 47,000 places .
Minister for Women Bronnie Taylor said the fund added to other measures announced in the 2022-23 NSW Budget to transform women ’ s economic opportunity , boost women ’ s workplace participation and tackle the gender pay gap .
“ This fund will help close the gender workforce participation gap by up to 14 per cent within a decade and give more women the genuine choice to reenter the workforce when they want ,” Mrs Taylor said .
Minister for Education and Early Learning Sarah Mitchell said the fund will allow the early childhood sector to expand and innovate by establishing new services , growing existing services , and supporting the sector more broadly .
“ Access to high quality early childhood education and care is one of the most important things we can do to give
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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 .
“ This fund will guarantee investment in this key sector , supporting it to provide the highest quality of education and care during the formative years of a child ’ s life .”
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The NSW Government will conduct extensive consultation with families and the sector to design the rollout of the Childcare and Economic Opportunity Fund . A board will be established to oversee funding decisions about projects .
The fund is due to open mid-next year for applications .
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