Women’s opportunity
The NSW Government will invest in significant reforms to make New South Wales the best place in Australia for women to live, work and raise a family. These investments are based on the findings of the Women's Economic Opportunities Review, which was commissioned by the Government as part of the NSW Economic Recovery Strategy in October 2021.
This investment will drive economic gains through higher women's workforce participation, while achieving better outcomes for children through its focus on early childhood education and care.
Workforce
Up to $5.0 billion (over 10 years) will be invested to establish the Affordable and Accessible Childcare and Economic Participation Fund, which is part of a package of early childhood education and care reforms, including universal pre-kindergarten and affordable preschool. These reforms, in combination with the changes to the Commonwealth Child Care Subsidy as proposed by the new Commonwealth Government, are estimated to:
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Close the women's workforce participation gap by between 4 and 14 per cent by 2032-33.
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Increase economic activity in New South Wales (Gross State Product) by between $4.7 billion and $17.1 billion (in real 2021-22 dollars) per year by 2032-33.
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This translates to an additional $1,200 to $4,400 (in real 2021-22 dollars) income per household by 2032-33.
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Increase NSW Government revenue by between $750 million and $3.5 billion (inclusive of up to $713 million extra GST receipts) over the 10 years to 2032-33.
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Lead to between 26,000 and 95,000 women entering the workforce or switching from part-time to full-time work by 2032-33.
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Deliver 47,000 ongoing affordable childcare places, ramping up over a number of years.
Additional measures to support greater economic opportunities for women in the workforce include:
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$20.2 million towards the objective of women making up 15 per cent of trades and nontraditional roles in the construction industry by 2030.
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$32.0 million in grants and tailored wraparound training support to assist women to return to work after lengthy stints out of paid employment as full-time parents, carers or for other reasons.
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Additional two weeks' bonus Paid Parental Leave for NSW public sector workers where parental leave is shared more equally between both parents, and no distinction between a primary or secondary carer, meaning that every parent in the public sector will be entitled to at least 14 weeks' paid parental leave.
Small business and entrepreneurship
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$12.0 million to establish the Carla Zampatti Fund (a women's venture capital fund) to support female entrepreneurs and small business owners, including $10.0 million for the Fund and $2.0 million for establishment and operation.
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$9.5 million for dedicated support for female business owners through Service for Business and Business Connect programs.
Health
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$80.0 million to support families with the high cost of fertility treatments.
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$40.3 million to establish 16 new menopause services, including four hubs across the State for women experiencing severe symptoms of menopause and address associated health risks.
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$5.2 million to extend support for post-natal mental health services delivered by not-for-profit organisations.
