An estimated $1.5 billion will be available from the Commonwealth for the ongoing Fund from 2017–18 to 2020–21. With matched funding from states and territories, the Fund will support 300,000 more apprenticeships, traineeships, pre-apprenticeships, pre‑traineeships, and higher apprenticeships.
The Fund will be managed through a new project based National Partnership Agreement (NPA) with states and territories. Under the new arrangements, there will be an emphasis on strong accountability, transparency and the delivery of clear outcomes. Funding will be prioritised towards apprenticeships and traineeships across a range of key priority areas, agreed by the Commonwealth and state and territory governments.
Each state and territory will have the opportunity to develop projects for consideration by the Commonwealth. All project proposals will need to demonstrate engagement with, and support from, employers and industry. It is critical that industry contribute to shaping the success of the Fund.
Jobs and growth are underpinned by a supply of Australian workers whose skills meet industry needs. The skills sector makes a significant contribution to Australia’s economic success, future productivity and growth. In 2015, around four million VET student enrolments accounted for two thirds of all post-secondary students.
A renewed focus on apprenticeships and traineeships will boost the number of people who choose and succeed in this pathway and help address skills shortages across Australia. Read the Skilling Australians Fund Fact Sheet for more information.