One big question that’s been asked of the government since it unveiled the Gonski school reform package is how it will be funded.
Here’s the government’s answer, in one chart.
The National Plan for School Improvement will be costing the federal government almost $10 billion in extra funding over six years starting in the 2014-15 financial year.
On a year-by-year basis, the federal government’s share of the spend rises steadily between now and 2019, before rocketing up to around $5 billion in 2020-21 – beyond the period covered in the budget spending projections.
The groundwork for this will be made in savings in three key areas: a crackdown on corporate tax loopholes, changes to family welfare payments, and cuts to planned increases in third-level education spending.
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