Labor’s childcare policy is a force for economic good but it must ensure providers don’t gouge parents with higher fees.
The first job for Labor ahead of implementing its $5.4 billion landmark childcare plan will be to find a mechanism through which the competition watchdog can stamp out price gouging, according to former South Australian premier Jay Weatherill.
While Labor has said it will ask the Australian Competition and Consumer Commission to design a “price regulation mechanism to shed light on costs and fees”, such powers do not currently fall within the ACCC’s mandate. “Childcare assets that have been seen as largely recession and COVID-proof have had their cashflows further bolstered by government. That is why the next part of the policy is so important – making sure more help for families doesn’t get transferred straight to the business owners and owners of childcare property assets who may now be even more comfortable to demand higher rents and fees.
It also identified that 35 per cent of Australians live in what it describes as “childcare deserts” where there are more than three children per available space.
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