View the full Summary Document of the 2013-14 Victorian State Budget announcements made yesterday
Higher Education and Skills – Additional support for TAFE
Additional funding is provided to build on investment committed through the Vocational Education and Training Reform Package, making available total output funding of $100 million for the TAFE Structural Adjustment Fund over 4 years. In combination with $100 million in capital funding, this forms a $200 million boost to TAFEs as part of the Government’s response to the independent TAFE Review Panel’s report on future directions for the sector – Next Steps for Refocusing Vocational Training in Victoria – Supporting a Modern Workforce.
Funding will be available for initiatives, including capital investment, to improve the financial sustainability of TAFEs and support a vibrant future for TAFE institutes in metropolitan and regional Victoria.
All up approx $180 million less in HESG budget (previously announced TAFE cuts)
JGTP Funding looks to be continued – will need Federal Government Budget to confirm full amount next Tuesday
Changes / programs cut
Apprentice trade bonus program will be phased at during 2013.
(The Apprentice trade bonus program was a $250 payment at 6 month mark and an additional $250 payment at the 12 month mark – paid directly to apprentices) This is estimated to save $20 million over the next 4 years.