Budget 2023-24: Fed Govt invests in skills and training and boosts skilled migration

The Federal Government has invested in skills and training and has strategies in place to boost skilled migration, as outlined in its recent Budget 2023-24.

As outlined in the Budget, the Federal Government is negotiating with the states and territories on a new five-year National Skills Agreement to commence from 1 January 2024. It will also fund a further 300,000 TAFE and vocational education training places to become fee-free.

It is also redesigning Australian Apprenticeship Support Services to improve apprenticeship career pathways and provide more support for completions.

A re-designed program model will assess the needs of every apprentice to support their success, help remove barriers for women in male-dominated trades and strengthen support for First Nations apprentices, apprentices with disability and those in remote areas.

These apprentices will have access to foundation skills training, personalised assistance and mentoring from commencement through to completion of their apprenticeship.

In addition, the Federal Government said it is developing a migration strategy to ensure the system delivers for Australians and migrants.

It aims to boost skilled migration by:

  • Allocating around 70 per cent of places in the 2023–24 permanent Migration Program to skilled migrants, bringing long-term fiscal and economic benefits and addressing persistent skill shortages
  • providing an extra two years of post-study work rights to Temporary Graduate visa holders with select degrees, to improve the pipeline of skilled labour in key sectors
  • Increasing the Temporary Skilled Migration Income Threshold to $70,000 to ensure skilled migration settings are better targeted

With a labour shortage struggle across the industry, these initiatives are expected to be welcomed across print.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter

Leave a comment:

Your email address will not be published. All fields are required


Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.