The RBA will be handing down it's cash rate decision this afternoon, but whatever the result, it will do little to solve the current cost of living crisis in Australia.

For instance, since Labor came to power, the cost of child care has soared by 22.3 per cent.

Shadow Minister for Early Childhood Education Angie Bell told Peter Fegan on 4BC Breakfast, "Since [Labor] introduced their so-called cheaper childcare measures, out-of-pocket costs for families are up by 12.7%."

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