Australian families with two children in childcare can receive an increase of subsidy from July after Treasurer Josh Frydenberg announced a $1.7 billion injection into the child care system. Aiming to encourage more women back into the workforce after having children, the new package allows parents with two or more kids— aged five and under—to receive an increase of childcare subsidy from 85 percent to 95 percent. As a part of the May 11 budget, the package is forecast to save 250,000 families up to $2,260 a year. The measures are argued to boost the economy by around $1.5 billion per year and produce 300,000 more working hours per week, according to the estimate of the Treasury. “That is the equivalent to 40,000 people working an extra day a week,” Frydenbergtold the press in Canberra on Sunday. Frydenberg also said the entire May 11 budget would be aimed at creating …