Ian Macfarlane (Groom, Liberal Party, Minister for Industry) Share this | Hansard source

This scheme is worth $1.9 billion over the forward estimates and will assist apprentices. Fourth year apprentices will be able to get up to $20,000. As we know, these loans are interest free. They will be indexed on 1 June each year and are interest free. These loans will see a 20 per cent discount to apprentices and certain skilled trainees once they graduate. That is what this scheme is all about. It is about assisting people on the way through their training so that they can meet their daily and weekly needs and giving them a bonus and an incentive when they have finished. We want to see these trainees and apprentices not only be supported but also have access to the best training institutions available. So we support the TAFE system. We support all the RTOs, as long as they provide a competitive and quality skills training system. We want to make sure that anyone, but young people particularly, embarking on a trade, like the member for Hinkler did, has the opportunity to get the best possible qualifications. This government will support them every inch of the way with a trade support loan. We will be able to put more into this area once we get over the $1 billion a month we have to pay in interest because of the debt the previous government left us.

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