A new study from the BC Office of the Canadian Centre for Policy Alternatives (CCPA) adds to the growing body of credible evidence proving the economic case for quality, affordable child care. The study, released this week and based on the $10 a Day Plan developed by child care experts, proves that the crisis of affordability and lack of spaces facing families could be easily solved with modest investments by government.
Iglika Ivanova, a senior economist at CCPA and author of Solving BC’s Affordability Crisis in Child Care: Financing the $10 a Day Plan, told the Vancouver Sun the federal and provincial governments would actually recoup 86 cents for every dollar invested in a universal child care system. The remaining funding would come from more people, mostly women, in the workforce paying income tax. “I think it’s important to show that we can actually afford it,” Ivanova said. “A big element that the provincial government is missing is that the program will be partially self-financing as more women will be able to go to work.”
BCGEU President Stephanie Smith is enthusiastic about the study. "At some point, the naysayers just have to cave under the weight of evidence," she says. "Study after study has proven that investments in quality, affordable child care pay off for society. Even the Surrey Board of Trade and bankers recognize this." The BCGEU supports the $10 a Day Plan and a wide range of community, labour, and business leaders has endorsed it.
"As an early childhood educator myself, I've seen first-hand how quality child care supports children's development and wellbeing. But the verdict is now in. Child care also makes great economic sense. We can solve the child care affordability crisis facing BC families, address inequality, and create jobs all at the same time. What's not to love about the $10 a Day Plan?"