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Ontario Just Made A Child Care Deal With The Feds That Could Save Parents So Much Money

In four years from now parents can expect to pay $10 a day in childcare.

Ontario and the federal government have just reached a multi-billion dollar deal that could save parents with young kids some serious money when they drop them off at childcare.

On March 28, Premier Doug Ford alongside Prime Minister Justin Trudeau announced that they reached a $13.2 billion multi-year agreement that will cut child-care fees by an average of 25% by April 1, 2022, to a minimum of $12 a day.

By December 2022, parents can expect another 25% cut, which will cut total costs in half from what they are currently used to paying.

"Savings per child by the end of 2022 of an average of 6,000 a year. That is real money for families at a time where we know costs of living continue to go up, the situation in Ukraine, the coming out of COVID, the challenges that our economies are facing means that this is real money that will stay in the pockets of families this year to help with everything else," Prime Minister Trudeau said during the press conference.

By September 2025, parents can expect to drop their kids off at a childcare program for just $10 a day. Within that same time frame, about 86,000 brand new childcare spaces for kids five years old and younger will also be pop up across the province.

"This deal will immediately reduce the cost of childcare in Ontario and provide refunds retroactive to April 1st," Premier Ford said.

According to the Ontario government, parents can start to cash in on these rebates this May, and will come after licensed centres and agencies are enrolled in their new system.