Jane Hume (Victoria, Liberal Party, Minister for Superannuation, Financial Services and the Digital Economy) Share this | Hansard source

Thanks to these measures the equivalent of around 40,000 parents, largely working mothers, will be able to work an additional day per week, boosting the economy by around $1.5 billion per year, right at a time next year when our economy, in recovery, will be in full swing.

It's not just families with two children that will benefit from our reforms. We're also scrapping the $10,655 annual childcare subsidy cap, effective from this year. And this will be applied retrospectively for the whole of the 2021-22 financial year, meaning anyone who reaches the cap before this date will have additional out-of-pocket costs for the 2021-22 financial year reimbursed. It's estimated that around 82,000 families in just Senator Hughes's home state of New South Wales will benefit from this measure. Bringing forward the subsidy and removing that cap will have an incredibly positive impact on families right across the nation.