COSBOA welcomes the Morrison Government's announcement to increase childcare support for workers and business owners given the positive effect this will have on families and the broader economy.
Peter Strong, CEO of COSBOA, stated today "the increase to childcare funding will have profound positive effects on the current employment challenge and deliver benefits to working parents, families, and small businesses alike".
Currently one of the biggest issues for small businesses is the inability to find staff — according to the National Skills Commission, there are over 200,000 jobs that are lying vacant right now. One reason that workers, skilled and unskilled, do not return to work or even start work is that their income is swallowed up by the childcare fees, making it unattractive and unrewarding to earn money that disappears straight into the childcare centre. This budget measure will provide the motivation needed to earn extra money to help with the household or take a well-earned, domestic holiday."
COSBOA notes there are thousands of family businesses who employ many other people and these businesses have often been negatively impacted by the difficulties of childcare arrangements, not only for their employees but also for themselves. Support for business folk is important if businesses are to continue to grow, to deal with the threats and opportunities coming from COVID-19, and provide a service and products to other businesses and to the community.
Mr Strong added "currently many family businesses have to divide childcare arrangements between the owners, often a couple with kids. Now they can consider the option of both of them working in the business while they can afford childcare. This provides a powerful impetus to economic growth as Australia rebuilds its economy post COVID 19. Nice work Treasurer Frydenburg."
Mr Strong also added "there are at least three other benefits for the country and community. First, the measure provides independence and economic security for all working parents noting that even in the modern age the majority of the childcare burden still falls disproportionately on women. Secondly, people may consider having more children and that impacts the next generation of employees - and we need more skilled workers now and into the future. Thirdly, if there are more successful small businesses then there will be more support for community through access to services and for local sports teams and charities. This is more leisure time support and assistance for those in difficulties or going through a difficult time. That could mean brand new uniforms for community sports teams right across the nation or specialist local support for the disadvantaged."
