Jun 25, 2026 – 10.07amAustralian taxpayers will pay $2.7 billion in both paid parental leave and the childcare subsidy to families earning more than $300,000 next financial year, according to a Policy Institute Australia analysis of the welfare system.Prime Minister Anthony Albanese’s aspiration for a universal childcare system, which he said last year he wants to be a defining political legacy, could cost more than $5.5 billion a year.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles