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Matt Kean on NSW’s $5bn childcare package
Kean has gone on to spruik the state government’s new $5bn childcare policy, which he says will grow the state’s economy by $17.4bn.
What it will do is see up to 95,000 women be able to enter the workforce or take on more hours. I mean, childcare costs are attacks on the dreams of women and families right across New South Wales, indeed right across the country.
We believe that families should have access to quality affordable childcare no matter where they live … And these reforms will deliver a middle-income family in New South Wales who have one child full-time care savings of up to $3,900 per annum.
This is one of the biggest productivity reforms that we can have that will grow our economy. And obviously lift living standards in this state.
Our policy is focused on providing additional childcare – accessible and affordable childcare across New South Wales – will grow the overall size of the economy by $17.4 billion.
We’re obviously monitoring the situation very closely. But this situation has arisen because the wholesale prices of electricity have gone above a point which triggers the market cap. That cap is in place to protect consumers.
And because the price of electricity that the generators can get for supplying electricity into the market is too low to cover their costs, they’re not bidding into the system. So this is a market failure issue.