VET News

National Skills Agreement Set to Bring Unity to the VET Sector

On January 1 2024, The Hon Brendan O'Connor MP, Minister for Skills and Training announced that the estimated  $30 billion in funding for the vocational education and training (VET) sector had started flowing, with the commencement of the National Skills Agreement (NSA).

The NSA (the first of its kind in ten years), has been established to provide stability to the VET sector and serve as a platform for structural improvements aimed at ensuring its relevance and benefits to workers, businesses, and the overall economy.

The Commonwealth Government's investment of $12.6 billion includes an additional $2.4 billion in flexible funding aimed at assisting states and territories in providing training for vital industries, such as:

• Clean energy and supporting the Net Zero transformation
• Sustaining essential care services
• Developing Australia’s sovereign capability and food security, and
• Ensuring Australia’s digital and technology capability.

There is also up to an additional $1.3 billion of Commonwealth funding to implement agreed reforms, including:

• $325 million to establish nationally networked TAFE Centres of Excellence and strengthen collaboration between TAFEs, universities and industry
• $100 million to support, grow and retain a quality VET workforce
• $155 million to establish a National TAFE Network to foster collaboration and promote cutting edge curriculum
• $214 million for Closing the Gap initiatives to be designed in partnership with First Nations people and led by them
• $250 million to improve VET completions, including for women and others who face completion challenges
• $142 million to improve foundation skills training capacity, quality and access
• $116 million to improve VET evidence and data.

Read full media release here

Date posted Jan 11, 2024