Monday, November 30, 2020

Child care could be key to short and long-term recovery

A new report from the Centre for Future Work is once again demonstrating that New Brunswick would benefit greatly from the implementation of a national child care system.
According to the study by economist Jim Stanford:
A universal national early learning and child care (ELCC) program would create over 200,000 direct jobs in child care centres, 100,000 more jobs in industries which support and supply the ELCC sector, and facilitate increased labour force participation and employment by up to 725,000 Canadian women in prime parenting years.
By the end of a 10-year implementation period, annual Canadian GDP would be $63 to $107 billion greater than it would have been without expanded child care. Extra government revenues collected as a result of increased economic activity would add $17 to $29 billion to government coffers per year – split between the federal and provincial governments. That would be more than enough to cover the total costs of a national ELCC program.
This would benefit all Canadians, but especially New Brunswick in both the long and short-term recovery from COVID-19. It would no doubt create more jobs in the province, while seeing an increase in women participating in the labour force which would put a major dent in the number of workers the province needs to fill current job vacancies.
So a national system would reduce the cost of child care, increase workforce participation, pay for itself and result in extra revenue for both federal and provincial governments.
Politicians at all levels in New Brunswick need to push for this to become a reality. Investing in a universal child care system benefits everyone.
Click here to read the full report.