The Albanese Government's 2023-24 Budget aims to rebuild and modernise the skills sector in Australia. With the goal of strengthening the economy and providing greater access to well-paid and secure jobs, the government is prioritising skills reform after a decade of previous failures under the LNP. This investment in skilling and training initiatives is expected to address workforce shortages and ensure a resilient economy.
Investments in Skilling and Training:
The Albanese Government has already taken significant steps to skill and train the nation's workforce. In 2023, they are delivering 180,000 Fee Free TAFE and Vocational Education and Training (VET) places. Additionally, financial support for apprentices, particularly those pursuing New Energy Apprenticeships, is being provided. These efforts are laying the foundation for addressing the nation's skills challenges.
Key Budget Initiatives:
The 2023-24 Budget includes several critical investments aimed at overcoming barriers and empowering Australians to access education and training opportunities. These initiatives include:
National Skills Agreement: The government plans to allocate an additional $3.7 billion to strike a five-year National Skills Agreement with states and territories. This agreement will prioritise vocational education and training, with TAFE at the centre. Gender equality and women's participation in the labor market will be a key focus, along with transitioning to a net-zero economy.
Foundation Skills Reform: An investment of $436 million over four years will fundamentally reform the delivery of Foundation Skills programs. This funding will enhance access to training for Australians aged over 15 who require improvement in literacy, numeracy, and digital skills.
Australian Apprenticeship Support: An additional $54.3 million will be allocated to improve completion rates for Australian apprentices. This funding aims to provide better-quality services and targeted support, especially for women, First Nations people, culturally and linguistically diverse (CALD) apprentices, and individuals with disabilities.
Australian Skills Guarantee: An allocation of $8.6 million will establish the Australian Skills Guarantee, introducing national targets for apprentices, trainees, and paid cadets working on Australian Government funded major infrastructure and ICT projects. Subtargets will be implemented to enhance women's participation in apprenticeships.
Defense Vocational Skills Taskforce: A funding of $3.9 million over two years will establish a taskforce to develop the required workforce for Australia's sovereign industrial base and the delivery of the nuclear submarine program.
VET Student Loan Program Upgrade: A budget of $42.2 million will be utilised to develop a modern and fit-for-purpose IT system for the VET Student Loan program.
Conclusion:
The Albanese Government's commitment to skilling and training initiatives in the 2023-24 Budget reflects their determination to address the significant national skills shortage. By providing increased opportunities for Australians to acquire necessary skills, the government aims to secure rewarding and sustainable employment in priority workforce areas. Collaboration between the Commonwealth, State, and Territory governments is crucial for building a high-quality, dynamic, and resilient VET sector. The Albanese Labor Government is focused on delivering a future workforce through investments in training and fostering a responsive skills system.
For more information, please refer to Skilling and training Australians for a stronger economy and a better future | Ministers' Media Centre
