Submission to the Victorian VET Funding Review
Over the last decade, Victoria has been a leader in VET reform. It recognised the importance of the sector, and pioneered the training entitlement model, supported by significantly increased funding.
The Business Council applauds successive Victorian governments for this focus.
However, the implementation of the reforms highlighted some design flaws resulting in budget exposure and poor quality training by a small number of providers. The biggest problem in the Victorian (and national) VET market is the lack of market information available to support informed choice.
This review provides an opportunity for the Victorian Government to put in place a cohesive framework for VET funding that:
• maintains the Victorian Training Guarantee (VTG) as a centrepiece
• significantly increases market information to support informed decision making
• establishes a higher bar to access government funding
• clearly articulates the need for individual funding contributions that reflect private return.
The review also provides an opportunity for Victoria to create the foundation for a broad tertiary model, of which the Business Council has been a strong advocate.