Government funding of VET 2022

Reissued

This publication (first published on 26 October 2023) has been reissued to remove data on VET Student Loans distribution by provider type.

This publication provides information on the flow of government funding for vocational education and training (VET) in Australia. The publication is based on 2022 data provided by the Australian, state and territory government departments responsible for administering funds for Australia’s VET system.

Government funding

In 2022, government funding provided through VET appropriations and VET intergovernmental funding arrangements totalled $10.7 billion, an increase in nominal terms of $274.1 million (2.6%) from 2021.

• the Australian Government provided $6.8 billion, an increase of $0.5 billion (7.6%)
• state and territory governments provided $4.0 billion, a decrease of $203.2 million (4.9%).

In addition, the Australian Government provided:

• $222.6 million for VET Student Loans, a decrease of $34.7 million (13.5%)
• $199.4 million for Trade Support Loans, a decrease of $0.2 million (0.1%).

Funding distributions

In 2022, funding distributed across VET activities totalled $10.9 billion, an increase in nominal terms of $0.4 billion (4.1%) from 2021.

Expenditure across VET activities included:

• $5.5 billion for direct VET delivery, an increase of $87.8 million (1.6%)
• $4.0 billion for employer assistance to engage in VET, an increase of $290.6 million (7.8%)
• $145.1 million for student assistance for equipment, travel and other costs, an increase of $19.6 million (15.6%)
• $448.3 million for capital investment, a decrease of $21.2 million (4.5%)
• $743.0 million for system administration and governance, an increase of $50.1 million (7.2%).