THIS PUBLICATION HAS BEEN SUPERSEDED.
For the most recent release please see the VET funding collection page.
Description
This publication provides information on the flow of government funding for vocational education and training (VET) in Australia. The publication is based on 2021 data provided by the Australian, state and territory government departments responsible for administering funds for Australia’s VET system.
Highlights
Government funding
In 2021, government funding provided through VET appropriations and VET intergovernmental funding arrangements totalled $10.5 billion, an increase in nominal terms of $2.8 billion (37.0%) from 2020.
- the Australian Government provided $6.3 billion, an increase of $2.5 billion (64.3%)
- state and territory governments provided $4.2 billion, an increase of $379.9 million (9.9%).
In addition, the Australian Government provided:
- $257.4 million for VET Student Loans, a decrease of $15.5 million (5.7%)
- $199.7 million for Trade Support Loans, an increase of $0.4 million (0.2%).
Funding distributions
In 2021, VET funding distributed totalled $10.4 billion, an increase in nominal terms of $2.9 billion (38.6%) from 2020.
Expenditure across VET activities included:
- $5.4 billion for direct VET delivery, an increase of $372.6 million (7.4%) from 2020
- $3.7 billion for employer assistance to engage in VET, an increase of $2.3 billion (155.7%)
- $125.5 million for student assistance for equipment, travel and other costs, an increase of $6.3 million (5.2%)
- $469.5 million for capital investment, an increase of $145.8 million (45.1%)
- $694.6 million for system administration and governance, an increase of $117.4 million (20.3%).