“…Whereas population ageing potentially limits future labour supply and entails high welfare state costs (for example, pensions, healthcare), childcare services support parental employment, which mitigates welfare dependency and poverty risks, which in turn positively impacts a country’s budget (Pavolini and Van Lancker, 2018; Troger and Verwiebe, 2015). Other potential wellbeing-enhancing effects in parents include higher levels of household-level gender equality, the realization of fertility intentions, and satisfaction with family life (Isaksen and Bikova, 2019; Neels et al, 2016; Schober and Schmitt, 2017). Among young children, the enrolment in formal childcare is expected to enhance their cognitive development, in turn potentially stimulating much needed future educational and economic performance in post-industrial labour markets (Burger, 2010; Felfe and Lalive, 2013; Havnes and Mogstad, 2011; Kamerman et al, 2003; Leseman and Slot, 2014).…”