Budget 2018 invests over $3.8 billion in operating funding, and approximately $395 million of capital funding for new assets over the next 4 financial years in education
Summary of the Budget 2018 Education Package
Figures are 4 Year Totals from 2018-2019.
|Budget 2018||Vote Education||Vote Tertiary Education||Student Support Votes 1||Total across all Votes|
|New operating funding|
|Cost pressures 2||1,163.743||1,163.743|
|Learning Support initiatives 3||283.809||283.809|
|100-Day Commitments: Making Tertiary Education More Affordable||1,703.447||524.732||2,228.179|
|Total new operational funding||1,572.971 4||1,703.797||524.732||3,801.500|
|Total funding identified for reprioritisation||(33.840)||(89.450)||(123.290)|
|Net new operational funding||1,539.131||1,614.347||524.732||3,678.210|
|New capital funding|
|Total new capital funding||394.912||394.912|
|Student loan expenses||(429.295)||(429.295)|
1 Votes Social Development, Social Housing and Revenue fund student loans and student support for tertiary students.
2 Cost Pressures refers to early Childhood Education and Schooling – Meeting Increasing Demand, as well as Schooling and ECE Cost Adjustments.
3 Includes ESOL and excludes forecast changes component for Learning Support.
4 A further $2.3 million for home-based ECE has been set aside that will be released following the completion of the Review of Home-based ECE.
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