Funding Boost for NSW Public Schools Following Agreement Between Governments

A deal between the federal and state governments will see an increase of $4.8 billion in Commonwealth funding for public schools in New South Wales, growing the overall share of funding for the sector contributed by the Commonwealth.

Schools are funded according to the Schooling Resource Standard (SRS) model, which estimates how much public funding a school needs to perform adequately. Under the agreement, the Commonwealth Government will contribute an amount equivalent to 25 percent of the SRS by 2034, up from 20 percent.

The agreement will see all schools that sign up receive the minimum amount of funding deemed necessary by the SRS.

A joint press release from the prime minister, premier, and education ministers hailed the agreement, declaring that all public schools in the state are on a path to “full and fair” funding.

“This represents the biggest ever new investment in New South Wales public schools by the Australian Government,” it said.

“New South Wales has also committed to removing the 4 per cent provision of indirect school costs such as capital depreciation so that New South Wales schools will be fully funded over the life of the Agreement.”

That provision was estimated by advocacy group Save Our Schools to have cost public schools $13 billion over six years.

Commonwealth education minister Jason Clare stressed that the agreement is “not a blank cheque,” with funding tied to reforms to improve education standards and outcomes.

Funding will be tied to early numeracy checks to identify students in need of additional support, “targeted and intensive supports such as small-group or catch-up tutoring” for struggling students, greater access to mental health professionals for students, and other reforms.These objectives join national targets to improve outcomes and attendance, and increase the rate of completion of year 12.

Prime minister, premier optimistic

Prime minister Anthony Albanese said that “every dollar of this funding will go into helping children learn.”

“We know that education opens the doors of opportunity, and we want to widen them for every child in Australia,” the prime minister said.

“This is about investing in real reform with real funding – so all Australian children get the best possible education.”

Premier Chris Minns said that public education is “the best investment any government can make.”

“We’ve seen a 40 percent reduction in teacher vacancies since we came to government, but we know there’s still more to do.”

“This investment is vital as we work to lift education standards across the state by ensuring there is a qualified, dedicated teacher at the front of the classroom.”