Thank you, Mr. Speaker. So the new money from the federal government, it's about $10 million a year, and it doesn't quite double what we were already spending. We were spending $10 million in GNWT funds and about $2.4 of federal money. So there's already a significant amount of money going into the system prior to this new influx of money.
So the current funding that is flowing out that everyone knows about is intended to reduce the costs for parents. However, there is obviously additional money, and we are working to get that out the door.
So the childcare fee reduction, that's the money for parents, we got that out the door. Parents should see probably over $4 million more in their pockets this year because of that. The wages for early childhood educators is the other big issue.
ECE already provides an incentive for early childhood educators based on the level of education. And so that's a payment of however many thousands of dollars based on education levels. This year, we are also rolling out the retention incentive bonus for early childhood educators out of the new federal funding recognizing that their wages don't reflect the importance of their roles.
There's also additional funding -- there's also funding now for post-secondary education. We have bursaries. We provide money to Aurora College or College Nordique to provide programming to educator -- early childhood educators. We'll be doing more of that as well.
So we're doing a lot, and this money is essentially allowing us to do more of the same as well as further reduce costs. Thank you.