How much money does the Australian government spend on education?

In 2019-2020, the Australian government spent a total of $278.6 billion on education, which accounted for 16.7% of total government expenditure. This includes spending on public and private schools, universities and other tertiary education institutions, as well as early childhood education and care.

Of the total amount spent on education, $176.0 billion (63%) was spent on public schools, $82.1 billion (29.5%) was spent on private schools, and $20.5 billion (7.4%) was spent on universities and other tertiary education institutions.

The Australian government also provides financial assistance to students in the form of scholarships, grants, and loans. In 2019-2020, the government provided $12.6 billion in student financial assistance, which accounted for 4.5% of total education expenditure.

The level of government funding for education varies between states and territories. In 2019-2020, the Australian Capital Territory spent the most per student on public schools ($20,866), followed by New South Wales ($19,244), Victoria ($18,848), and Queensland ($17,594). The Northern Territory spent the least per student on public schools ($12,383).

The Australian government's investment in education is significant and reflects the importance of education to the country's economy and society. Education provides individuals with the skills and knowledge they need to participate in the workforce and contribute to the economy. It also helps to promote social cohesion and create a more equitable society.