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Wednesday, 18 September 2019
Page: 3364

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Mr IRONS (SwanAssistant Minister for Vocational Education, Training and Apprenticeships) (10:37): I» «move» :

That this bill «be» «now» «read» «a» «second» «time .

I am also introducing the VET Student Loans (VSL Tuition Protection Levy) Bill 2019 as part of the government's package to implement sustainable tuition protection arrangements from 1 January 2020 for students accessing a VET Student Loan, a FEE-HELP loan or HECS-HELP loan with a private education provider or TAFE.

The levy framework in the bill, has been developed by the Australian Government Actuary and is broadly consistent with the levy structure used by the Tuition Protection Service (TPS) for international students. The TPS is a proven success for students, the taxpayer and the sector and is financially sound.

The bill imposes a levy on non-exempt providers. The levy has three components—an administrative component, determined by legislative instrument by the minister, a risk rated premium, and special tuition protection components, which the VSL Tuition Protection Director sets by legislative instrument. The Treasurer is required to approve the legislative instrument made by the VSL Tuition Protection Director.

The strong governance arrangements of the TPS, and flexibility in the levy framework, will ensure the levies settings can respond to any emerging trends in the vocational training sector. This is essential as it will reward providers when the sector is stable, but also protect the sustainability of the model for government and the taxpayer.

This is why I introduce this bill today. I commend the bill.

Debate adjourned.