Federal budget provides apprenticeship incentives

Treasurer Wayne Swan has announced a $201 million fund for apprenticeship acceleration and mentoring, as part of a $3 billion investment in skills and training initiatives over six years.

Part of that $3 billion is the National Workforce Development Fund, which Swan says will provide a new approach to training, expecting the $558 million incentive to deliver 130,000 new training places over four years.

$100 million has been allocated over four years to the Accelerate Australian Apprenticeships initiative. He says this will support innovative training models that enable apprentices to move more efficiently through their training and advance to the next level of learning and pay, provided set quality standards are met.

Additionally, $101 million has been allocated over four years for an Apprenticeship Mentoring package. This is designed to help individuals choose the right training pathway and to support them in completing their training.

Minister for Tertiary Education, Skills, Jobs and Workplace Relations, Senator Chris Evans, says that since 2007 the Australian Government has almost doubled funding for apprentices and their employers to almost $1.1 billion last financial year.

Additionally, the budget sees up to $1.75 billion (in addition to the existing $7 billion) invested in reforms to the vocational education and training system.