Just from an economic perspective, here is my real life example. A close male friend of mine at work got promoted to the same job as me about a month after I did. We shared a similar journey, same level of education and same status universities and similar prior work experience. I had 2 yrs more experience than him. Pay awards each year based on performance we're well structured (standard 3% raise) and exactly the same for us. Then I chose to have a baby.
I took mat leave in the November and didn't qualify for any bonus or pay award for that financial year. I returned FT after 12 months and didn't qualify for a bonus or pay award the following year either. The next year I got the standard pay award of 3%, but my salary was by then 2 years of pay awards behind my male colleague. And I was out of pocket by 2 bonus payments. Total 8k.
A promotion opportunity came up but I was told I could not apply as I didn't have a full 3yrs of achieving my objectives. My male friend got the job. The pay increase was over 10k (and well deserved).
My child was 18 months old by this point, you can guess the impact on my career and earning potential of a second child, can't you?
So this is a simple illustration of how and why women often become the lower earner within a couple, even when returning to work FT within an established career.
Not having childcare in place absolutely punishes women and devalues our work, someone has to take the hit and our government consider women's careers and our financial independence to be collateral damage.