VET News

Skilling and Training Australians for a Stronger Economy and a Better Future

The Albanese Government’s 2023-24 Budget will help to rebuild and modernise our skills sector to ensure a stronger and more resilient economy and give more Australians the opportunity to access well paid and secure jobs, now and in the future.

We are already delivering 180,000 Fee Free TAFE and Vocational Education and Training (VET) places in 2023, along with investing in financial support for apprentices, particularly those choosing to take on a New Energy Apprenticeship.

Our 2023-24 Budget is critical to addressing the nation’s skills challenges. And our new skills investments build on over $400 million provided in our October 2022 Budget for a further 300,000 Fee Free TAFE and VET places in high-skill needs areas from 2024 to 2026 – subject to agreement with states and territories.

We’re working to remove the barriers Australians face in accessing life-changing education and training and ensuring that Australians from all backgrounds and cultures are supported to achieve their full potential.

Our Budget will deliver:

• An additional $3.7 billion upon striking a five-year National Skills Agreement with states and territories to ensure more access to vocational education and training, with TAFE at the centre. National Cabinet has agreed that gender equality and women’s participation in labour markets will be a focus of the NSA, and jurisdictions will work collaboratively on national skills priorities, including transformation to a net zero economy.
• $436 million over four years to fundamentally reform the way the Commonwealth delivers Foundation Skills programs so more Australians over the age of 15 who need training to improve their literacy, numeracy and digital skills have access.
• An additional $54.3 million in critical Australian Apprenticeship support to improve completion rates. Improving the quality of services and better targeted support will be particularly crucial to supporting women, First Nations people, CALD apprentices, and people with disability to complete their apprenticeship.
• $8.6 million to deliver the Australian Skills Guarantee and introduce national targets for apprentices, trainees and paid cadets working on Australian Government funded major infrastructure and ICT projects. This includes responsible sub targets to boost women’s participation in apprenticeships.
• $3.9 million in additional funding over two years to establish a defence vocational skills taskforce. This will help develop the workforce required to shape our sovereign industrial base and support the delivery of Australia’s nuclear submarine program.
• $42.2 million to develop a modern fit-for-purpose IT system for the VET Student Loan program – a long overdue upgrade.

Read the full ministers' media centre release here.

Date posted May 11, 2023