Parents are spending around €750 on childcare per month.
Childcare costs are set to be cut by up to €170 in this year's Budget.
Coalition parties have agreed to cut childcare costs in a bid to help parents struggling to make ends meet.
There's no doubt the news will be welcomed by parents who have been hit by extreme childcare costs in recent years.
Minister Roderic O'Gorman has reportedly been pushing to reduce childcare fees in this year's budget.
According to
The Independent, the Government will offer grants to creches in a bid to reduce their fees.
It is understood that the funding will come into effect in 2023.
The news comes after it was confirmed that Irish parents were paying around €750 per month
for childcare.
Families in Dublin are paying nearly 60% more for childcare than families in other counties.
Childcare in Dublin costs approximately €221.57 per week.
Earlier this morning, it was revealed that all primary school pupils will be given free books from next September.
A Government source confirmed that all textbooks will be free for primary school children. The move has been welcomed by parents who have felt the financial strain during the back-to-school season.
Class sizes are also set to be reduced next year.
College fees will also be reduced. According to reports, they will be cut from €3,000 to €2,500.
