Australia offers free childcare in further support to workers

[SYDNEY] Australia is offering free childcare to about one million families, as the government steps up efforts to cushion the impact of the coronavirus.

The support will "deliver hip pocket relief" to families while ensuring childcare centres can stay open during the crisis. The sector is expected to receive A$1.6 billion (S$1.39 billion) over the coming three months in taxpayer subsidies, Prime Minister Scott Morrison said in a statement.

The government has announced massive levels of fiscal support to safeguard jobs and soften the impact of the outbreak, which is expected to tip the economy into its first recession in almost 30 years. Total fiscal and monetary stimulus now stands at about A$320 billion, or 16.4 per cent of gross domestic product.

BLOOMBERG