€27,144 Childcare subsidy for "Irish Triplets" and up to €9,100 per child for some parents!

Posted: 12 Nov 2018

Category: News

A new Affordable Childcare Scheme is opening up to all Irish parents from October 2019! In this article, we look at 8 different examples given on what parents and parents to be can expect, as Minister for Children and Youth Affairs, Dr. Katherine Zappone continues to prepare for its' implementation.

While this scheme makes great strides in the right direction, will it do enough to support parents who want to continue working after having a family? Amount of subsidy available is based on net household income and number and age of children.

Examples

  • Lone parent on net annual income of €26,000, with one child aged 2 years in need of 40 hours of childcare per week will get a weekly subsidy of €175
  • Family with a net annual income of €30,000, with two children aged 1 and 2.5 years and in need of 25 hours of childcare per week will get a weekly subsidy of €220
  • Family with net annual income of €34,600, with a 1 year old and 2 year old twins in need of 40 hours of childcare per week; €522
  • Family with net annual income of €35,000, with two children aged 1 and 2.5 years and in need of 25 hours of childcare per week: €192
  • Family with net annual income of €47,500, with two children aged 2 years (40 hours childcare per week) and 5 years (17 hours out-of-school care per week): €128
  • Family with net annual income of €53,000, with two children aged 2 years (40 hours childcare per week) and 5 years (17 hours out-of-school care per week) (Making 10% pension contribution); €93
  • Family with net annual income of €60,000, with a 1 year old and 2 year old twins in need of 40 hours of childcare per week; €176
  • Family with net annual income of €60,000, with three children aged 2 years (40 hours childcare per week) and 5 years (17 hours out-of-school care per week) and 7 (17 hours out-of-school care per week). (Making 10% pension contribution); €92

Of course, it's always "worth it" to have a healthy beautiful family, but is it worth continuing to work? Are parents being forced out of the workforce, predominantly women due to the costs associated with childcare? This is the question that faces a lot of parents as they decide whether one parent should stay at home - at least until the children are school going age. During a time of almost "full employment" can we afford to lose key skilled professionals? It's fine if it's by choice, but what if we are forcing people out of the workforce!

According to recent data from the Central Statistics Office (CSO) there is a massive financial burden on working parents around the country since the crash as costs for childcare continue to soar. We now rank amongst the highest in Europe.

The latest household budget surveys revealed that on average, a Dublin household with children up to the age of 14 was spending 36pc more than it had been paying five years ago with some families outlaying more on childcare than on their mortgage. Full Time childcare costs can range between €850 - €1,300 a month for 1 child depending on the location of the Childcare service. An average of almost €13,000 a year.

The minister's office has announced that comprehensive information, training and support will be available to parents, childcare providers and other stakeholders from early next year and that these changes will mean that more families will benefit.

Further information will continue to be available on www.affordablechildcare.ie over the coming months.

© 2018 JobAlert | Cookies, Privacy and Terms