(Bloomberg) -- Australia is offering free childcare to about 1 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 centers can stay open during the crisis. The sector is expected to receive A$1.6 billion ($973 million) 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% of gross domestic product.
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