Victorian public schools will reach full funding by 2031 under a landmark deal signed by the Albanese and Carroll Labor Governments.
Under the agreement, the Commonwealth will commit an extra $3.5bn over the next decade, with the state adding more than $13bn above 2026 spending levels.
“This agreement means our students can continue to lead the nation in NAPLAN and families can be assured their child’s future is in the best hands," Victorian Premier, Ben Carroll, said in a statement.
Last year, The Age revealed the state government had quietly pushed back its commitment to fund 75% of the School Resourcing Standard (SRS) – matched by 25% from the Commonwealth – from 2028 to 2031. That delay cost public schools $2.4bn they would have received under the original timeline, and forced the state and federal governments to rely on transitional, year-by-year funding agreements in the meantime.
The Australian Education Union’s Victorian Branch has backed the deal, but criticised the decision to hold back part of Victoria’s contribution until 2031.
“We welcome the certainty and increases that the deal provides, but the arrangements confirmed today means Victorian public schools will not receive some of the additional funding as soon as other states and territories," AEU Victorian Branch President, Justin Mullaly, said in a statement.
“The delay in signing and the decision to back-end the deal, will short change Victorian public schools by hundreds of millions of dollars over the next few years. Funding delays have real consequences, and this needs to be addressed.”