Mitchell Institute releases new report and sounds VET funding alarm

The Mitchell Institute recently shared the results from the Australian Investment in Education: Vocational Education and Training report, showing that funding for vocational education and training (VET) is at its lowest level in more than a decade, leaving Australia at risk of failing to properly provide high-quality training for the estimated 45 per cent of new jobs needing VET qualifications in the next five years. The findings will be of particular interest to the early childhood education and care (ECEC) sector in light of publicised workforce shortages which fall at a time when state governments are rolling out initiatives which will require more qualified educators to meet initiative demands. Every state and territory government, the report found, had cut VET funding over the past decade, with overall funding falling to 15 per cent below levels in 2006. New South Wales has experienced one of the largest declines, report authors said, with a decline in recurrent funding of 21 per cent in real terms compared to 2006, while Victoria has seen its funding almost halve since 2012. Mitchell Institute Education Policy Fellow Peter Hurley warned that the funding crisis was “making it especially difficult for quality VET providers to sustain high course standards”. Ensuring a quality education for VET students, and meeting the growing demand for skilled workers is only possible, Mr Hurley said, when governments increase funding for VET courses. For more Information, please visit here.