The AFR has a story this morning from Phil Coorey (and yes, and yes, and don't get me started) that shows the federal government's childcare subsidies are being eaten up by higher-than-inflation fee increases - magically & coincidentally in line with the subsidies. There was criticism of the policy at the time that, without also putting in place a cap on fee increases, this is exactly what would happen. This should be Policy 101, and makes me think it was deliberate.