Australia must shift funding away from universities to TAFE

Thursday 13 August 2020

New research from the Centre for Future Work highlights the economic contribution of Australia’s Technical and Further Education institutions.

It has estimated that the TAFE system generates more than $6 billion in direct economic activity each year, while its total annual economic benefit is $92.5 billion. This equates to 4.5% of Australia’s GDP.

The Centre for Future Work has urged the federal government to increase the proportion of public funding for vocational and educational training that is allocated to the TAFE system:

Training will play a vital role in reorienting the economy after the pandemic…

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.