Budget 2022-23: Skilled workers now and for the future | Sarina Russo

Budget 2022-23: Skilled workers now and for the future
By Sarina Russo Editorial Team
Budget 2022-23 Skilled workers now and for the future

Following Treasurer Josh Frydenberg’s delivery of the federal budget for 2022-23, the Government is building on their $13.3 billion investment in apprenticeships and traineeships since 2013 with a further $2.8 billion over five years from 2021-22 to ensure employers have the skilled workforce they require.

The investment seeks to upskill apprentices, reward employers for hiring them and simplify the current incentives system. In his budget night speech, Treasurer Josh Frydenberg said “we have already invested $13 billion in skills and training with a record 220,000 Australians now in a trade apprenticeship – the highest level since records began in 1963”.

“Tonight we go further, with a new $2.8 billion investment to increase take-up and completion rates. Providing $5000 payments to new apprentices and up to $15,000 in wage subsidies for employers who take them on.”

To continue building on the success of the Boosting Apprenticeship Commencements (BAC) and Completing Apprenticeship Commencements (CAC) wage subsidies – which were recently extended to 30 June 2022 – the Australian Government has announced further investments in the apprenticeship and traineeship space.

  • A new streamlined Australian Apprenticeships Incentive System (AAIS) will launch on 1 July 2022. Designed to increase commencements and completions in priority occupations and support Australian employers to fill identified skill shortages. The AAIS will replace the current Australian Apprenticeships Incentives Program (AAIP) and the BAC and CAC wage subsidies which will close for new applicants on 30 June 2022.
  • The expansion of access to trade support loans (TSL) to all priority occupations including aged care trainees.
  • Up to $12 billion over five years will be committed in support of the National Skills Agreement (NSA) across all states and territories. With $3.7 billion committed as part of the 2022-23 federal budget and once agreed upon, the NSA will transform the way all governments support vocational education and training ensuring greater national consistency and that investment decisions are transparent, evidence-based and linked to skills need. The NSA has the potential to deliver around 800,000 additional training places over the next five years.
  • As part of the $2 billion Regional Accelerator Program, $144.1 million will support eligible employers and Australian apprentices in regional and remote Australia to support greater apprenticeship completions and top up existing Commonwealth programs to grow regional economies.
  • $38.6 million will be invested in encouraging women take up an apprenticeship in a non-traditional trade occupation, especially priority occupations that have typically low take-up by women.
  • To build on the 30,000 in-training support (ITS) places currently accessed through Australian Support Network providers (like Sarina Russo Apprenticeships!), an additional 2500 young Australians between 15 and 20 will be able to access ITS like pastoral care, mentoring and career guidance thanks to a $2.8 million investment.
  • To support Australia’s aged care workforce, the JobTrainer Fund will be expanded. The Government will invest a further $48.5 million over two years – contingent on matched funding from states which will provide an additional 15,000 free or low-fee placed through the JobTrainer Aged Care Boost.
  • To support women considering a transition into the tech workforce, $3.9 million will be provided to include access to resources, online training, coaching and mentoring to support women in their mid-career transition.
  • The Australian Skills Quality Authority (ASQA) will receive $17.5 million over five years to undertake training package assurance for the national vocational education and training (VET) system.

In the spirit of reconciliation, Sarina Russo Group acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.