A surprising deal promises to fully fund this essential by 2034—is it too good to be true?

The education our kids and grandkids receive shapes our future. We know how vital it is to give every child a fair shot at learning so they can grow and succeed. 

After all, a better future for our young ones often depends on having a strong educational foundation. Recently, there’s been some exciting news that could change the way schools work across the country, giving more kids the chance to get quality education.

In a historic move that could reshape Australia’s educational landscape, the federal government has inked a deal to see every public school in the country ‘fully funded’ by 2034. 

This landmark agreement was finalised when Queensland, the last holdout state, signed on the dotted line. But what does this mean for the future of education in Australia, and how will it impact students, teachers, and the broader community?

The Australian federal government has finalised a historic agreement to fund every public school in the country by 2034. Credit: Pixabay

In Australia, the Schooling Resource Standard (SRS) determines a school’s spending on quality education. 

This benchmark was established by the influential Gonski review in 2012, which aimed to quantify the funds required for schools to meet their student’s educational needs and mitigate the effects of social disadvantage.

The SRS sets a base amount of funding per student—currently $13,977 for primary and $17,565 for secondary students—with additional loadings for schools and students facing extra challenges, such as those with disabilities or from First Nations backgrounds. 

Despite this standard, disparities have persisted, with only public schools in the Australian Capital Territory (ACT) meeting the SRS and 98 per cent of private schools receiving funding above the SRS.

What will the funding be associated with?

Prime Minister Anthony Albanese and Queensland Premier David Crisafulli announced a $2.8 billion funding package for Queensland’s public schools over the next decade. 

Schools will be expected to implement reforms and meet specific targets, including early literacy and numeracy checks, catch-up tutoring, enhanced mental health support, and the adoption of explicit teaching methods.

‘Today marks a historic moment in Australia, as for the first time, every student, whether from public or private schools, will receive the funding they rightfully deserve,’ Albanese said.

He added, ‘This isn’t a blank cheque. This funding is linked to tangible reforms… today’s announcement is part of an estimated $16.5 billion in additional federal support for public schools nationwide starting from 2025-2026, extending through the upcoming decade until 2034. It signifies the largest investment in public schools made by any Australian government to date.’

Under the previous Coalition government’s funding model, states and territories were responsible for 75 per cent of public school funding, with the federal government contributing 20 per cent and leaving a 5 per cent gap.

The Federal Education Minister, Jason Clare, suggested raising the Commonwealth’s funding share for public schools by 2.5 per cent to 22.5 per cent, with an increase of up to 40 per cent for the Northern Territory due to its additional needs. 

The various jurisdictions will still have to address the remaining funding gap. Western Australia, the Northern Territory, the ACT, and Tasmania have agreed to this proposal. 

However, discussions stalled with the other states until South Australia and Victoria negotiated a 5 per cent increase from the federal government this past January, boosting their total contribution to 25 per cent to achieve full funding over the next decade. 

New South Wales recently agreed to the deal, leaving only Queensland yet to commit. With an election likely approaching, time was running short for Crisafulli to secure the additional funding.

Queensland’s education minister, John-Paul Langbroek, remarked that the agreement ‘hopefully marks the end of the education wars’.

He added, ‘It’s been protracted negotiations but importantly for Queensland schools…this is going to have a real impact in Queensland in education and across the country.’ 

Crisafulli humorously noted, ‘There’s nothing that can’t be solved over a bit of common sense and a cannoli. Two cannolis, and I bought both of them.’

Will the federal Coalition support the deal?

As with Labor’s recent major health funding announcements, Shadow Education Minister Sarah Henderson said a future Coalition government would match ‘dollar for dollar’ all school funding agreements established by Labor with states and territories. 

However, she expressed concerns regarding the adequacy and lack of detail in the school reforms, pointing out that the bilateral agreements had not been made public.

In response, labor and education unions quickly highlighted the previous funding cuts instituted by Coalition governments. 

Clare advised that the funding was ‘all at risk’ if Peter Dutton were to win the upcoming federal election. 

‘In 2013, the Liberals said there’d be no cuts to our schools. That was a lie. As soon as they got in, they ripped $30bn out, and they will do the same thing again if they win this year,’ he said.

Correna Haythorpe, the Federal President of the Australian Education Union, urged Dutton to clarify his stance on fully funding public schools in his home state and across the country. 

‘Peter Dutton has never supported the full funding of public schools, and the Coalition can’t give a straight answer about what they would do in government,’ she said.

‘We need to know whether Peter Dutton will commit to delivering the full 25 per cent Commonwealth share of the SRS in every state should he take office.’

How do you think it will change the face of education in Australia? What are your hopes and concerns for the future? Join the conversation in the comments below, and let us know what you think!

Also read: Pursuing passion later in life: Two stories of music and education

YourLifeChoices Writers
YourLifeChoices Writershttps://staging.yourlifechoices.com.au/
YourLifeChoices' team of writers specialise in content that helps Australian over-50s make better decisions about wealth, health, travel and life. It's all in the name. For 22 years, we've been helping older Australians live their best lives.

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