National Skills Agreement 2024

National Skills Agreement 2024

05 March 2024 09:36

In October last year, all state and territory governments collaborated with the federal government to sign the National Skills Agreement (NSA): a transformational moment for vocational education and training (VET) in Australia. As of January 2024, this agreement is now in effect.

After a decade of uncertainty, the NSA marks a significant shift that seeks to bring unity to the VET sector – emphasising collaboration between governments, industry, unions and education providers. It recognises that there is a combined responsibility to provide opportunities for secure and well-paid work by strengthening the national economy through a skilled workforce.

  • The Commonwealth will invest up to $12.6 billion over five years to expand and transform access to the VET sector, supporting training providers to deliver quality education and training.
  • An additional $2.4 billion in flexible funding will prioritise critical and emerging industries that equip our economy for the future (e.g. Net Zero).
  • The agreement addresses workforce shortages by anticipating future needs, such as those arising from major defence projects (e.g., AUKUS) and the growing IT and cyber security sectors.
  • Up to $1.3 billion of Commonwealth funding in the NSA will improve foundation skills training and VET completion rates, focusing on creating a fairer society.

This initiative represents an important step forward for vocational education, emphasising collaboration and investment in quality education while enhancing our workforce’s capabilities. Through strategic investments and targeted funding, the agreement not only bolsters access to quality training, but also ensures alignment with the evolving needs of industries, such as green energy and cybersecurity.

At Aspire, we are committed to empowering learners and building a skilled workforce. We are excited by this initiative as it supports a future where learners can maximise their educational experience through high-quality resources.

Read more about the National Skills Agreement here.

Read Brendan O'Connor's op-ed in The Australian here.

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