The Rudd Government has decided to fast-track the establishment of Skills Australia in order to help lift the productive capacity of the Australian economy and fight inflation.
Addressing Australia's long-term skills shortages is vital to tackling the inflationary pressures left behind by the Howard-Costello Government.
Skills Australia will oversee the Rudd Government's commitment to providing an additional 450,000 training places over the next four years and 820,000 over the coming decade.
To get down to work on increasing the skills base of the Australian workforce, the first 20,000 of the Rudd Government's additional training places will be available by April.
New legislation to establish Skills Australia will be fast-tracked and brought before Parliament as a priority.
The total skills package is $1.17 billion over four years.
The Deputy Prime Minister will consult with relevant State and Territory Government Ministers and Industry Skills Councils seeking their urgent cooperation in prioritising the first tranche of training places in areas that are experiencing acute shortages.
These new training places will see new skilled workers entering the workforce as early as June this year and will be directed to industries experiencing acute skills shortages, to help keep a lid on inflationary pressures.
Key industries likely to receive the new training places will include mining, construction, health & community services, and personal & other service industries.
The mining industry is currently experiencing the highest vacancy to employment ratio, with around 3.7 vacancies for every 100 people employed in the industry. Wages growth is also strongest in the mining industry, at 5.4 per cent through the year to the September quarter 2007.
Wages growth is also strong in the construction industry, at 4.8 per cent through the year to September 2007. The construction industry has the highest proportion of employees with a certificate as their highest qualification, at 45.7 per cent.
Skill shortages have been identified by the Reserve Bank as being a factor contributing to higher inflation and interest rates.
Investment in education, skills and training of our people is critical to expanding the productive side of the economy.
Brisbane
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