A new unified funding system for vocational education is one of four major milestones in the Government’s reform of the education system, which aims to give every New Zealander the best chance to succeed.
Education Minister Chris Hipkins said Budget 2022 provided $2billion operating expenditure and $855million capital expenditure to build on and continue key shifts across the education system and deliver greater support to both education providers and learners.
As part of that, the Government released the detailed design of the new unified funding system for vocational education.
Mr Hipkins said it was the crucial final component of the Government’s comprehensive and wide-raging reform of vocational education, and implemented the $279.5million of additional funding announced for vocational education and training in last year’s Budget.
"Funding is also being provided to meet rising costs in tertiary education, with $266.9million over four years for a 2.75% increase for tertiary tuition and training subsidies."
Also, $112.7million in funding ($40million of which was from existing baselines) was being made available to increase funding for enrolments, he said.
"The unified funding plan represents significant change.
"A key aspect of unified funding is the ‘learner component’, which includes a calculation based on enrolments of learners most at risk of not completing vocational education and training qualifications.
"This is vital to meeting the needs of learners who have been traditionally underserved by the education system, which is a core tenet of the ongoing reform of vocational education."
She said the polytechnic also welcomed the investment in trades training programmes, including the extension of its Apprenticeship Boost programme.
"Given the construction sector boom in our region, including the new Dunedin hospital, supporting more people into skilled work makes much sense."
