Ourselves wants to universally reduce the cost of childcare for all parents by two-thirds, despite the fact that the party often criticizes government policies that are not targeted.
The party previously criticized government policies that were not aimed at helping the poorest families, such as the universal electricity credit of 200 euros.
In a Dáil motion on the cost of living in late June, the party’s financial spokesman said: Pearse Doherty said the government should focus on “targeted measures”.
Today, however, the party will launch universal proposals to the state to heavily subsidize childcare for all families through an additional investment of €270 million over two years.
This would bring the investment in childcare to more than €1 billion if the government’s already existing investment of €870 million is included.
The 60 percent cut in compensation would be implemented through a scheme whereby the government would bear the cost of the wages of the providers’ staff in exchange for the providers cutting compensation by two-thirds.
Sinn Féin says it would also introduce “decent pay scales” for staff in the sector, aiming to bring back crèches that have left the sector in recent years due to poor pay.
This would lead to an increase in crèches for children, the party says.
According to an example prepared by the party, a couple living in Dublin with a combined income of €65,000 per year and with an 18-month-old child in a full-time nursery would save €6,639 per year.
Sinn Féin says this would be paid through a solidarity tax of 3 pc. on people who earn more than €140,000.
This measure alone would fund the 60 percent reduction in childcare costs for the entire country, it says.
Despite the proposed austerity measures that will benefit even the highest earners, the party believes those with higher incomes would make a greater contribution through the solidarity tax, which would fund improvements to other public services.
The party would also invest 1 million euros in the Childcare Advisory Service and appoint 15 additional reception staff throughout the country.
Sinn Féin’s Childcare Policy To Be Launched Today By Party Leader Mary Lou McDonaldalong with TDs Kathleen Funchion and Pearse Doherty.
“Childcare benefits in Ireland are among the highest in the EU,” said Ms Funchion.
“For many families, it comes down to a different mortgage or rent every month.
“Many parents, especially women, are forced to stop working because they simply cannot afford to go back to work because of these crippling costs.
“The government has failed to take action against these rising rates and they are at a crisis point.”
She added: “It is time to act now to reduce childcare costs and ensure that families get a much-needed break from these prohibitive costs.”
Higher government figures have already indicated that cutting childcare costs will be a major priority in September’s budget.
Tánaiste Leo Varadkar has said these costs will be reduced “very significantly”.
Children’s Secretary Roderic O’Gorman is overseeing the proposals, freezing childcare benefits last year and promising to increase funding in the national childcare program.