The Australian government is committing approximately $3 billion towards the Vocational Education and Training (VET) sector in the coming financial year, 2018-19.
About half of that money will go to states and territories as a Special Purpose Payment. It is intended for VET, but individual governments will choose how to spend it. Hundreds of thousands of young Australians will benefit, including those attending TAFE institutions around the country.
In addition, a Skilling Australians Fund will help create up to an additional 300,000 apprenticeships. States and territories who sign on will have their investment met dollar for dollar by the government.
“The Australian Government recognises how critical vocational education and training is to Australia’s economy and the delivery of services and infrastructure,” said Assistant Minister for Vocational Education and Skills, Karen Andrews.
Funding of up to $189 million annually in the Australian Apprenticeship Support Network will make it easier for employers to recruit, train, retain and support apprentices. Through the Australian Apprenticeships Incentives Program, up to $400 million will be available annually for eligible employers who take on apprentices.
Minister Andrews said the government cares about the status of VET, and aims to restore confidence in the sector, to promote it as “a real and positive choice for all Australians”.