Investing means greater returns now and in the future
Investing early makes sense. Research shows for every $1 invested in early childhood education, $2 is returned to Australia. These benefits are reaped by the children and their families, governments, business and community through:
- Better education, better employment
improved abilities gained from early childhood education can be measured in later school achievement and educational attainment. This results in higher earnings for the individual throughout their life, higher tax revenue and reduced welfare costs for government.
- Higher levels of workforce participation by parents and carers
parents with children in early childhood education who return to the workforce or increase their hours benefit from a higher income, and also improve their skills and employability – leading to higher earnings over time.
Increased workforce participation by parents with children in early education also leads to greater superannuation contributions which in turn leads to less reliance on government assistance at retirement.
- Health and education cost savings
due to lower levels of children repeating a year of school and reduced need for special education programs. Evidence also shows children who attend quality early education are less likely to suffer from health issues related to obesity and smoking and less likely to become part of the criminal justice system.
- Other social benefits
improved education and earnings lead to other flow-on effects like greater social cohesion, reduced inequality, and a healthier and happier community, more able to contribute and cope with life’s challenges.
Quality early childhood education can help level the playing field for the most vulnerable children. Children in disadvantaged communities have the most to gain yet are the least likely to attend and the least likely to experience high quality learning.
Early childhood education is a key component of building a prosperous society. It nurtures confidence and essential life skills and sets children on a path towards success in school and in subsequent endeavors as workers, parents and citizens.
Investing in the early years will yield results for generations.