Industry Skills Fund

Closed 7 Sep 2014

Opened 28 Jul 2014

Overview

In support of the government’s National Industry Investment and Competitiveness Agenda, and as part of the broader reform to the Vocational Education and Training (VET) system, the Industry Skills Fund (the Fund) will address workforce capability issues impacting on the ability of Australian SMEs to respond quickly to new and changing opportunities and improve their productivity and competitiveness in a global market.

The $476 million Fund will provide access to training that better positions Australian industry to succeed in a rapidly changing economy. The Fund will commence on 1 January 2015 and will deliver 200,000 targeted training places and training support services over four years. It will operate on a co-contribution basis with streamlined administration.

The Fund will assist SMEs to position themselves to take advantage of new technology, innovative work practices, new and emerging opportunities, opening export markets and emerging economies. Larger companies will also be able to access the Fund, but will be expected to make greater contributions towards the cost of training.

The Fund will incentivise industry investment in vocational education and training to take advantage of new economic opportunities. The Fund’s co-contribution feature will motivate employers to maximise outcomes and implement sustainable ongoing skills training.

The Industry Skills Fund will support the achievement of clear targeted outcomes and involve streamlined delivery of both training and support to micro, small and medium Australian businesses, and will be delivered with minimum red tape.

Why We Are Consulting

This paper has been developed by the Department of Industry (‘Department’) to provide stakeholders with an opportunity to submit feedback to the Australian Government on the proposed design and implementation arrangements for the new $476 million Industry Skills Fund.

The Australian Government seeks feedback from stakeholders on any of the proposed features raised in the paper, to inform the architecture and implementation arrangements for the 200,000 targeted training places and training support services to be delivered through the Fund over the next four years.

What Happens Next

The consultation period of the Industry Skills Fund discussion is now closed. The fund will commence on 1 January 2015. Prior to the launch of the fund, draft guidelines will be released incorporating feedback from this consultation process.

For more information, and to register to receive updates about the fund, please go to the Industry Skills Fund website.

Audiences

  • Sectoral peak bodies
  • Training delivery organisations
  • Businesses

Interests

  • International competitiveness
  • Business productivity
  • Vocational Education and Training (VET)
  • Training product development
  • Language Literacy and Numeracy
  • Mentoring
  • Workforce Planning
  • Training Needs Analysis