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Parents are set to save up to $550 a month for each child they have in licensed care centres, the provincial government has claimed.
Minister of Education Jennifer Whiteside said the savings – up to $6,600 a year for each child – are on top of reductions of $350 a month for under-threes in group care.
The government said the fee reductions, which are for children of kindergarten-age and younger, will be implemented in December.
Whiteside said 96 per cent of children in eligible care centres will automatically qualify for reduced fees.
She added that the average daily cost of childcare in the province will be $21 by the end of 2022, down from $53.
The funding for the fee reductions comes from the Early Learning and Child Care Agreement between the BC and federal governments.
"The Canada-British Columbia Canada-wide Early Learning and Child Care Agreement that we signed just over a year ago puts families first, and will ensure every child has access to high-quality, affordable, accessible child care," said Karina Gould, federal Minister of Families.
"With hundreds of dollars in savings, this investment will provide much-needed support to reduce the cost of living for families with young children. Our government remains focused on making life more affordable for families and giving every child the best possible start in life."
Whiteside said that child care had not previously been treated as a “necessity,” forcing many families to be “shut out" of the system.
"These savings are about helping families to get ahead and ensuring families are supported to pursue opportunities," she added.