16 Feb‘Making Australia the Best Place in the World to Be a Parent’ – new report to be launched on Monday
A new report commissioned by The Parenthood, entitled ‘Making Australia the Best Place in the World to Be a Parent’, is being launched in Canberra by Zali Steggall on Monday.
Economic modelling in the report demonstrates the considerable financial benefit associated with pursuing a strategic approach to best practice policies that affect the parenting experience.
The report estimates that the cumulative impact of reforming early childhood education and care (ECEC) and paid parental leave (PPL) to bring Australia into line with comparable nations could increase GDP by 4.1 per cent in 2050 or $166 billion. If Australia could lift female participation to that of males, it would increase GDP by 8.7 per cent or $353 billion by 2050.
- universal health and wellbeing support for parents and children through pregnancy and the early years
- a paid parental leave (PPL) scheme that provides one year of paid leave to be equally shared between both parents
- free and high-quality early childhood education and care (ECEC) for all families
- flexible and supportive workplaces with universal access to paid carers’ leave for sick children.
The report advocates that the combined impact of these recommended policies would:
- enhance childhood development and lift long term productivity
- increase female participation and productivity, reducing the gender gap in workforce participation and earnings.
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