In November 2017, the reporting framework for the new National VET Funding Collection was endorsed by Australian vocational education and training (VET) Ministers. This new approach to reporting provides information on the flow of VET government funds and insight into who provided funding, what was funded and who benefited. The collection scope, implemented over a three-year period, includes direct and indirect government funding for VET, including government assistance to employers for workforce training and apprenticeship employment.
This publication presents information on government funding
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In November 2017, the reporting framework for the new National VET Funding Collection was endorsed by Australian vocational education and training (VET) Ministers. This new approach to reporting provides information on the flow of VET government funds and insight into who provided funding, what was funded and who benefited. The collection scope, implemented over a three-year period, includes direct and indirect government funding for VET, including government assistance to employers for workforce training and apprenticeship employment.
This publication presents information on government funding for VET in Australia and reports on: governments' contributions to VET and funding allocations across states and territories; VET funding by VET activities and funding distributions across training or student characteristics; and the value of public VET assets of property, plant and equipment. Government provisions for VET loans are presented separately in this publication. Data have been sourced from the National VET Funding Collection 2018.
In 2018, government funding provided through VET appropriations and VET intergovernmental funding arrangements totalled $6.1 billion, a decrease in nominal terms of $134.6 million (2.1 per cent) compared to 2017. This includes: the Australian Government contributing $2.8 billion, a decrease of $325.8 million (10.6 per cent), and state and territory governments contributing $3.4 billion, an increase of $191.3 million (6.0 per cent).
In 2018, compared with 2017, the Australian Government also provided: $297.3 million for VET Student Loans (including grandfathered VET FEE-HELP loans), a decrease of $204.9 million (40.8 per cent), and $212.2 million for Trade Support Loans, an increase of $25.9 million (13.9 per cent). In 2018, VET funds distributed totalled $6.1 billion, an increase in nominal terms of $33.8 million (0.6 per cent) compared to 2017. In 2018 compared with 2017, funds distributed across VET activities were: $4.7 billion for direct VET delivery, an increase of $17.9 million (0.4 per cent); $600.3 million for employer assistance to engage in VET, a decrease of $16.8 million (2.7 per cent); $122.7 million for student assistance for equipment, travel and other costs, an increase of $48.0 million (64.2 per cent); and $682.5 million for system administration, governance and capital investment, a decrease of $15.3 million (2.2 per cent).
Abstract from publisher's website.
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