As part of the agreement, the Commonwealth will provide an additional 5 per cent of the Schooling Resource Standard (SRS) to Victorian public schools.

This will lift the Commonwealth’s contribution from 20 per cent to 25 per cent of the SRS by 2034. 

This will see around an estimated $2.5 billion in additional Commonwealth funding to Victorian public schools over the next 10 years.

This represents the biggest new investment in Victorian public schools by the Australian Government – ever.

This is a landmark day in the history of public education in the Bendigo electorate.

This includes more individualised support for students, mandating evidenced-based teaching practices and more mental health support in schools.

Victoria will remove the provision put in by the former Liberal Government allowing the state to claim 4 per cent of public school funding for indirect school costs such as capital depreciation and replace it with 4 per cent of recurrent funding on eligible expenses, while also maintaining a share of 75 per cent of the SRS for public schools. 

This is not a blank cheque. The Agreement signed today will be followed by a Victorian Bilateral Agreement, which will tie funding to reforms already being delivered in Victorian schools that will help students catch up, keep up and finish school, such as:

• A Year 1 phonics check commencing this year and an early years numeracy check to identify students in the early years of school who need additional help
• Continue the nation leading investment in initiatives that support wellbeing for learning – including access to mental health professionals in schools
• Access to high-quality and evidence-based professional learning
• Initiatives that improve the attraction and retention of teachers.
  
  

In addition, the following national targets will be included:

• Increasing the proportion of students leaving school with a Year 12 certificate by 7.5 percentage points (nationally) by 2030

• Reducing the proportion of students in the NAPLAN ‘Needs Additional Support’ proficiency level for reading and numeracy nationally by 10 per cent.
• Increasing the proportion of students in the ‘Strong’ and ‘Exceeding’ proficiency levels for reading and numeracy by 10 per cent by 2030 and trend upwards for priority equity cohorts in the ‘Strong’ and ‘Exceeding’ proficiency levels nationally.
• Increasing the Student Attendance Rate, nationally, to 91.4 per cent (2019 level) by 2030.
• Increasing the engagement rate (completed or still enrolled) of initial teacher education students by 10 percentage points to 69.7 per cent by 2035.

This means more help for students and more support for teachers.

The Albanese Government is continuing to work with remaining states to get all public schools on a path to full and fair funding.


Quotes attributable to the Federal Member for Bendigo Lisa Chesters:

“Every school student in the Bendigo electorate deserves access to a quality education.

“This landmark funding agreement will help improve our local schools and boost outcomes for students.

“Labor are investing in our public schools to create a better and fairer education system.”


Quotes attributable to Premier and Member for Bendigo East Jacinta Allan

“My priority is – and has always been – that every child in Bendigo and across Victoria has access to a world-class education in a government school."

“By investing in our schools, we’re investing in our kids’ future – that’s why we have the largest school building program in the country and that’s why we’ve advocated for this deal.

Quotes attributable to Member for Bendigo West Maree Edwards

“There's no better place to get a world class education than one of our Victorian public schools here in Bendigo. This funding agreement is a win for our students and teachers and ensures that our local public schools get their fair share.”