A new economic study led by the renowned private-sector economist Robert Fairholm highlights the net benefits of the proposed $10aDay Child Care Plan for Governments and employers, even in the Short Term.
The study shows that solving the current child care crisis is much more than simply an affordable option for governments - the $10aDay Child Care Plan will provide higher economic returns to BC than other government investments.
We've shared this report with the press, and now we need your help to amplify our message — we don't have to choose between a strong economy and making BC more affordable for families. By implementing the $10aDay Plan, we'll have both.
Will you take a minute to send a letter to the editor of your local newspaper, and let them know this is an issue that's important to BC families? Simply fill out the form on this page, and we'll make sure your letter gets to the editors of your local newspapers.
Here are some facts and key study findings you can include in your letter:
- Implementation of $10aDay Plan is projected to generate sufficient overall government sector revenues to pay for the additional government spending required to build and operate the system.
- This analysis also projects substantial benefits to employers and households throughout the implementation period, and beyond.
- Full implementation of the $10aDay Plan will have a significant and positive impact on GDP and jobs.
- The increase to GDP is close to 2.0 per cent or $5.787 billion on full implementation, employment increases by 2.8 per cent, or 69,100 net new FTE jobs - an employment multiplier of 36.4 jobs per million dollars of spending. Both of these multipliers are well above the benefits the province typically receives from other investments.
- These gains will provide particularly significant benefits to single mothers, and help many families to leave social assistance, which will reduce income inequality.
- Although the analysis focuses on the near-term, benefits will increase over time, as children who experience high quality, affordable child care enter adulthood healthier, better educated, and less likely to be involved in the criminal justice system — all of which contribute to higher earnings, higher tax revenues for governments, and reduced government spending.
- The projected benefits to government are shared between the B.C. and federal governments, so it is reasonable to anticipate that the federal and provincial governments will share the cost of financing the $10aDay Plan.