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Governments pandemic boost to VET spending

Manufacturing News

The extent of the Australian and state and territory governments’ boost in spending on vocational education and training (VET) during the Covid-19 pandemic has become clear in new figures released by the National Centre for Vocational Education Research (NCVER).

Governments spent $10.4 billion on VET in 2021, according to the report Government funding of VET 2021.

This was a massive increase of $2.9 billion or 38.6 percent from 2020.

The Australian government provided $6.3 billion, an increase of $2.5 billion or 64.3 percent, and state and territory governments provided $4.2 billion, an increase of $379.9 million or 9.9 percent.

The federal government also provided $257.4 million for VET Student Loans, a decrease of $15.5 million, and $199.7 million for Trade Support Loans, an increase of $0.4 million 0.2 percent.

NCVER Managing Director Simon Walker said: “The largest increase in expenditure was on employer assistance, particularly temporary Covid-19 pandemic wage subsidies for apprentices and trainees under the Australian government’s Australian Apprenticeships Incentives Program.

“Employer assistance totalled $3.7 billion in 2021, up by 155.7 percent when compared to 2020.”

Funding for training, support and assistance of apprentices and trainees increased to $4.7 billion in 2021, up by 108.1 percent compared to 2020.

Meanwhile funding for training, support and assistance of non-apprentices totalled $2.5 billion in 2021, an increase of 15.5 percent compared to the previous year.

Picture: NCVER

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