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Government funding

In 2021, government funding provided through VET appropriations and VET totalled $10.5 billion, an increase in nominal terms of $2.8 billion (37.0%) from 2020.

• the Australian Government provided $6.3 billion, an increase of $2.5 billion (64.3%)
• state and territory governments provided $4.2 billion, an increase of $379.9 million (9.9%).

In addition, the Australian Government provided:

• $257.4 million for VET Student Loans, a decrease of $15.5 million (5.7%)
• $199.7 million for Trade Support Loans, an increase of $0.4 million (0.2%).

Funding distributions

In 2021, VET funding distributed totalled $10.4 billion, an increase in nominal terms of $2.9 billion (38.6%) from 2020.

Expenditure across VET activities included:

• $5.4 billion for direct VET delivery, an increase of $372.6 million (7.4%) from 2020
• $3.7 billion for employer assistance to engage in VET, an increase of $2.3 billion (155.7%)
• $125.5 million for student assistance for equipment, travel and other costs, an increase of $6.3 million (5.2%)
• $469.5 million for capital investment, an increase of $145.8 million (45.1%)
• $694.6 million for system administration and governance, an increase of $117.4 million (20.3%).