Victoria’s TAFEs are contributing nearly $3 billion in economic benefit, creating jobs and helping to provide the workforce we need to deliver our massive infrastructure pipeline.
An independent study released today has found Victoria’s TAFEs delivered an economic benefit of $2.9 billion in 2016/17, achieving a return of investment of $2.19 for every dollar spent by Victoria’s 12 stand-alone TAFE institutes and four dual-sector universities.
Welcoming the findings, Minister for Training and Skills Gayle Tierney said the report highlighted the vital role TAFE plays in delivering workforce skills for employers and enabling Victorians to get the qualifications they need to secure well-paid jobs in our fastest growing industries.
The KPMG report, which was commissioned by the Victorian TAFE Association, also recognised the critical role TAFE plays in delivering significant social and equity benefits, with 40 per cent of TAFE students coming from lower socio-economic backgrounds.
Studying at a Victorian TAFE leads to a significant boost in employment outcomes, from 62.2 per cent employment prior to training rising to 72.5 per cent employment after training.
The report identified that strong partnerships with industry to shape education and training means Victorian TAFEs are uniquely placed to meet changes in the economy, including reskilling workers and developing new training.
The Andrews Labor Government is making record investments to rebuild Victoria’s TAFE system, after the former Liberal Government slashed funding to the sector, closing campuses and sacking teachers.
Our unprecedented investment in major road and rail projects, new schools and hospitals, support for Victorians living with a disability and historic action to curb family violence has created massive demand for skilled workers in these industries.
The Victorian Budget 2018/19 is investing $172 million to make 30 priority TAFE courses and 18 pre-apprenticeship courses free, with no tuition fees and more Victorians will be able to access training, with $303.8 million to fund more than 30,000 new training places.
We know that the cost of training can act as a barrier to getting the right skills and this year’s Budget makes the investment in our training system needed to break down that barrier.
Quotes attributable to Minister for Training and Skills Gayle Tierney
“This report confirms what we have known all along – investing in TAFE benefits not only students but also our communities and our economy.”
“Unlike the Liberals who made it their mission to destroy TAFE, we have made the record investments needed to put it back at the heart of training in Victoria.”
“We want to make sure every Victorian has the opportunity to take part in training and get a job – that’s why we’re making 30 TAFE courses and 18 pre-apprenticeship courses free.”
Reviewed 19 August 2020