A little relief could finally be coming to parents across the province.
Starting in December parents will be able to save as much as $550 per child if their children are in licensed child care centres.
Parents won’t need to apply for anything to receive the savings too. The province is directly funding licensed child care centres.
“Child care is one of the biggest bills many families face each month,” said Katrina Chen, BC’s Minister of State for Child Care in a media release.
“Cutting child care fees again, this time by as much as $550 a month more per child, is one way we are taking action to put money back in people’s pockets at a time when rising global inflation is making life more expensive.”
The savings the care centres receive are intended to instantly lower fees for children kindergarten-aged and younger.
These savings build upon earlier fee cuts as part of BC’s $2.7 billion investment in ChildCare BC that began in 2018. They’re being funded through a five-year, $3.2 billion Canada-British Columbia Canada-wide Early Learning and Child Care Agreement
“With hundreds of dollars in savings, this investment will provide much-needed support to reduce the cost of living for families with young children,” said Karina Gould, federal Minister of Families, Children and Social Development regarding the Early Learning and Child Care Agreement.
“Our government remains focused on making life more affordable for families and giving every child the best possible start in life.”
Child care providers will also feel the benefit of this fee cut. BC is taking action to increase payments to providers by 100% or more.
These payments help the providers give the best possible care to the children in their care by helping them fight rising costs.
Depending on their children’s ages and the type of care they are receiving, Parents may be able to save up to $6,600 per year for each child in licensed care at facilities participating in the Child Care Fee Reduction Initiative.
- A family with a 10-month-old and a three-year-old in group care could save as much as $11,940 more per year, in addition to the $5,400 per year they are already saving.
- A family with a two-year-old and a four-year-old receiving family care would see up to $10,080 more in savings each year, in addition to the $3,120 per year they are already saving.
In 2018 previous savings were introduced and participating child care providers are already passing on savings of up to $350 a month per child to families.
BC’s government, with support from the federal government, has also funded more than 30,500 new licensed child care spaces since the launch of ChildCareBC in 2018.
They are also working to improve training opportunities and wages for the early childhood educators.