Revealed: What the changes in childcare costs in the 2023 household will mean for families

Young families are expected to be the big winners of the 2023 budget as cuts in childcare fees and double child support payments are on the way.

Children’s Secretary Roderic O’Gorman is pushing to cut childcare costs by an average of €170 a month.

He previously pledged to halve childcare costs in two budgets, with costs set to be cut by about a quarter in the 2023 budget.

How will the subsidy work?

In last year’s budget, the minister froze fees.

Childcare providers had to join a program that government sources said took up around 90 percent of providers.

In return, the providers froze their fees.

This year they have to reduce the fees by up to 170 euros per month.

This will be achieved by increasing government subsidies to providers through core funding totaling €221 million for a total investment of €800 million.

This year, however, it is expected to be higher.

Nationwide, the average monthly childcare costs for parents are currently 750 euros.

However, it can cost upwards of €1,000 a month for parents in Dublin and other urban areas where some places are also in short supply.

When will the cost reduction take effect?

Senior government sources said the reduction could happen “within months”.

Will childminders be included in the changes?

Childminders are not affected by the changes as they work privately. This may mean parents who depend on childminders while waiting for a place in a nursery will not benefit from this afternoon’s budget announcement.

What are some of the other household supports for parents?

Families will be some of the biggest winners in this afternoon’s budget.

Parents are lining up for double child support payments and free textbooks for elementary school students are also on their way.

As part of the Free Books Initiative, schools receive grants for the bulk purchase and distribution of books and related workbooks on an annual basis.

By today’s standards, parents will save an average of €110 per child, while the total cost to the state will be around €47 million per year.

A further reduction in primary school classes is also announced.

As a result of the 2023 budget, the student-teacher ratio will drop to 23:1 next September.

https://www.independent.ie/business/budget/revealed-what-the-childcare-cost-changes-in-budget-2023-will-mean-for-families-42019803.html Revealed: What the changes in childcare costs in the 2023 household will mean for families

Fry Electronics Team

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