|Federal Budget 20-2021
The Morrison Government has released the 2020‑21 Budget, an economic recovery plan for Australia.
The Government is investing in education, skills and apprenticeships as part of its JobMaker Plan, committing to support people getting into jobs and ensuring that Australians have the right skills for the jobs of the future. In summary:
- JobTrainer – $6.9 billion in 2020‑21 investment, supporting up to 340,700 additional free or low-fee training places.
- New apprenticeships – an additional $1.2 billion through the Boosting Apprenticeship Commencements Wage Subsidy by paying a 50 percent wage subsidy for commencing apprentices and trainees.
- Support for job seekers – investing $62.8 million to establish the new Local Jobs Program to connect job seekers to local employment opportunities, as well as $296 million to deliver a new Digital Employment Services platform that will assist job seekers in managing their own way into employment and training.
- More job-ready graduates – investing $299 million to provide an additional 12,000 undergraduate Commonwealth Supported Places in 2021, as well as up to 30,000 additional university places available next year.
- Short courses to reskill and upskill Australians – committing $252 million to support the delivery of 50,000 higher education short courses to provide opportunities for students and the recently unemployed to retrain in areas of high demand and national priority.
The new JobMaker Hiring Credit will also help to accelerate growth in employment by giving businesses incentives to take on additional employees that are young job seekers aged 16 to 35 years old, estimated to support around 450,000 positions for young people and cost $4 billion from 2020-21 to 2022‑23.