Making Australia the best place in the world to be a parent

Families and children
Written By Clare Maxwell

Summary

Equity Economics worked with The Parenthood and key partners on a new report, supported by the United Workers Union, developing a range of reforms needed to make Australia the best place in the world to be a parent.

To reimagine the potential of parents, children and Australia, the report recommend significant investment in:

Universal health and wellbeing support for parents and children through pregnancy and the early years;

  1. A parental leave scheme that provides one year of paid leave to be equally shared between both parents;

  2. Free and high-quality ECEC for all families; and

  3. Flexible and supportive workplaces with universal access to paid carers’ leave for sick children.

Findings

The analysis indicates the combined impact of the above policies would:

  • Enhance childhood development and lift long-term productivity.

  • Increase female participation and productivity, reducing the gender gap in workforce participation and earnings.

Equity Economics estimates that the cumulative impact of the proposed changes 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.

Read the full report

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