LIMERICK parents are set to save thousands of euros a year with a substantial reduction in childcare fees coming into effect from today.
Newly appointed Minister of State and Limerick Fine Gael TD Kieran O’Donnell said that the reduction was one of the measures announced in Budget 2023 and many parents have already received notifications from creches outlining their revised fees
“From today childcare fees will drop by 25 per cent, with an average €1,200 reduction in annual childcare costs for each child. A parent with two children in creche full time is set to save €400 per month on fees,” he explained.
“Government is doing this by almost trebling the subsidies provided through the National Childcare Scheme. The overall number of childcare places will be increased with an extra €59 million invested in our childcare providers.
“For parents in Limerick on the minimum subsidy this will mean up to €3,276 off their annual bill per child. With up to €1,170 currently available per annum, this represents up to an additional €2,106 off the annual cost of early learning and care for school aged childcare per child.
“Parents on the maximum subsidies, based on an income assessment and the age of the child, can already receive up to €11,934 off their annual fee.
“It will also mean that any family who is not already at the maximum hourly subsidy will see an increase in their subsidy. For those who have an award less than the maximum subsidy, the amount of the increase will taper down as they approach the maximum hourly subsidy.
“Parents in Limerick can be reassured the national childcare subsidy increases won’t be absorbed into fee increases, with a fee freeze on 2021 rates in place in over 90 per cent of the childminding facilities which have signed up to the new core funding stream.
“Core funding began in September and has given rise to increased capacity. The geographical breakdown across the country indicates expansion in urban and commuter areas where there has been significant pressure on places,” Deputy O’Donnell concluded
“A subsidy calculator, which will be updated so parents can check new subsidy rates, is available here
