2022 Budget

The Australian Budget was handed down on 29 March 2022.

The following outlines funding policy that affects VET and education.

• $52.8 million over the next 4 years to deliver an initiative – ReBoot – which will support up to 5,000 disadvantaged Australians develop skills and provide a pathway to employment.
• An additional 15,000 subsidised vocational education and training places in Aged Care
• Apprentices, trainees and their employers will receive $1.3 billion in wage subsidies and cash payments over the next five years in a bid to boost Australia’s skills pipeline
• Apprentices and trainees in priority industries (which are yet to be confirmed) will receive a $5000 payment, split into four instalments every six months for three years
• First- and second-year apprentices in priority industries will have 10 per cent of their wages paid by taxpayers through to 2025-26, falling to 5 per cent in their third year
• It comes in addition to $365 million in wage subsidies for all apprentices and trainees that will be paid out over the next three months under extended COVID measures.
• $228.5 million over the next 4 years to attract new people to teaching and improve outcomes, including $62.4 million to extend the National Schools Reform and Non-Government Support Reform funds, and $29.4 million to extend the Indigenous Boarding Schools Grants program.

For full budget highlights, click here.