Anthony Albanese is launching a childcare calculator he says will help families find out how much cheaper their fees would be under a Labor government.

Mr Albanese says one million families would be better off under his party’s alternative plans for early education.

Labor is promising to scrap the $10,560 childcare subsidy cap, lift the maximum rate to 90 per cent, and increase the taper rate to families earning less than $530,000.

Mr Albanese says Labor’s plan would make child care more affordable for 97 per cent of families in the system and remove disincentives for second income earners, predominantly women, to work full time.

He says it will also remove financial barriers to more than 100,000 families locked out of the childcare system.

“Labor has put forward a plan for cheaper child care that is win, win, win – it is good for parents, good for children, and good for the economy,” Mr Albanese said on Monday.