TAFE Finances Stronger Under Labor Government

A new report from the Victorian Auditor General has revealed the Andrews Labor Government’s investment in TAFE has seen our public institutes finances post their strongest results in years.

The VAGO: Technical and Further Education Institutes 2015 report, tabled in State Parliament today, shows TAFEs and their subsidiaries recorded a combined surplus of $37.2 million compared to a deficit of $83.1 million in 2014.

The report also shows:

  • The former Liberal Government’s cuts to TAFE had profound impacts on institutes
  • TAFE’s financial risk went from high under the Liberals in 2014 to low under Labor last year
  • In 2013, the Liberals ceased ongoing funding to our TAFEs, which saw their revenue drop

The Labor Government injected an extra $159 million into TAFEs, far more than promised at the last election.

The Auditor General also found there had been a significant turnaround from the prior two financial years, under the former government when the TAFEs posted large combined net deficits.

Unlike the former Liberal Government, the Labor Government is getting on with the job of linking training to the needs of industry and students.

The Labor Government inherited a training system in crisis. Over the past year, we have worked to rebuild TAFEs, to invest in apprenticeships and boost quality in the system.

Quotes attributable to Minister for Training and Skills Steve Herbert

“We didn’t waste a moment working to rescue TAFEs and today’s report from the Auditor General shows our initiatives are working.”

 “When we came to Government we knew the former Government slashed funding to TAFE. It impacted public institutes across the state.”

“The Liberals continue to downplay their cuts to TAFE but today’s report shows just how desperately needed our TAFE Rescue Fund, TAFE Back to Work and TAFE Boost fund is.”

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