13 May 2014
………………………………………………………………………………………………………
The “tools for your trade payments” for apprentices will cease from 1 July 2014. It will be replaced immediately with a Trade Support Loans Program providing $439m over five years to provide apprentices with financial assistance up to $20K over a four year apprenticeship through a student loan repayment scheme. The Government will also establish an Industry Skills Fund to provide $470m over four years to support the training needs of small to medium enterprises that cannot be met by the national training system. Expenditure is budgeted to decline about 13% in 2014-15 over 2013-14 (from $1.67 billion to $1.45 billion) and 8% over the four years to 2017-18 (to $1.55 billion).
…………………………………………………………………………………………………….……
Programme 1: Building Skills and Capability
Programme 1 supports the Government’s vision for the future of Australia’s industries in a globally competitive market through a responsive vocational education and training (VET) sector delivering the skills that employers need for their workforce.
The Australian Government is working to create a more efficient and effective skills and training system, which is industry led and outcome-driven. A range of reforms will be undertaken to improve the responsiveness of the system including programmes to support skills for industry.
A key element of this commitment is the new Industry Skills Fund, an investment of over $460 million to support industries to diversify successfully and improve their competitiveness in a global market.
The components of Programme 1 are grouped under the following sub programmes:
- Sub-programme 1.1: Industry competitiveness—this sub-programme facilitates training that will enhance Australian businesses’ competitiveness in a global market.
- Sub-programme 1.2: Skills development—this sub-programme is designed to increase participation in apprenticeships and develop the skills of the Australian workforce. A key component is the Government’s election commitment to provide Trade Support Loans that assist apprentices to complete their apprenticeships.
- Sub-programme 1.3: Access to training—this sub-programme is designed to provide clearer training pathways and improved access to training which allows Australians to progress to better careers and opportunities.
- Sub-programme 1.4: Support for the National Training System—this sub programme is designed to develop an effective and efficient national training system that meets the skills needs of Australia’s new and emerging industries.
