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This document discusses the educational component of the 2008 Commonwealth Government Budget. Australia faces significant changes to its social and economic environment through an ageing population and increasing international competition. The nation must invest in developing a world-class education system and drive development of a workforce that is highly skilled, flexible and adaptable in responding to increasing global competition for skills. This Budget prioritises the Education Revolution, a new approach to education and training. Education has the potential not only to drive productivity but also to empower individuals and help overcome disadvantage. The Education Revolution is for all Australians, including those who have been excluded from the full benefits of education in the past. The Budget provides $19.3 billion to deliver the Government's commitments over the next four years. It is a vital first step in creating a world-class education system that supports all Australians to learn, from early childhood education to schooling, from skills and training to our universities. This cooperative national approach will make a difference to the lives of students, parents and working families by providing early and better opportunities for all children, better quality teaching and training, higher workforce participation and a higher skilled and more flexible workforce.