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Australian schooling - the price of failure and reward for success / Adam Rorris.

Catalogue Information
Field name Details
Record Number 17854
Author Rorris, Adam
Title Australian schooling - the price of failure and reward for success / Adam Rorris. [ElectronicResource]
Published [Australian Education Union], 2016.
Collation 52 pages [PDF]
General Note "This report was commissioned by the Australian Education Union to examine the economic case in favour of the full implementation of the school funding reforms outlined by the Review of School Funding (Gonski Review)." - p. 3.
Summary Note "Failure to invest in the reinvigoration of the Australian school system (through the full implementation of the Gonski reforms) will impose long run financial costs spanning the entire working life of today’s school students. To indicate the scope of these costs, this study has conservatively estimated the costs of the additional unemployment benefits of those that remain unemployed and added foregone income tax revenues. These alone accumulate to more than $70 billion without allowing for multiplier effects on the rest of the economy. Other known costs include those likely to be incurred from poorer health, higher incarceration rates and general costs associated with crime and social exclusion. All together, these will impose hefty additional direct financial costs on Australian governments and the community. Alternatively, by investing in schools, Australia stands to do much better than just avoid these direct financial costs. Through effective and targeted interventions to address the needs of the most needy (as specified by the Gonski Review) Australia stands to gain vast economic benefits. If every student acquired the basic skills specified for 15 year olds (PISA Level 1, Mathematics) then Australia will gain an average $27.5 billion in economic benefits each year until 2095. This amounts to a future economic benefit of AUD 2.2 trillion (discounted for inflation) until 2095. More ambitiously (and of relevance to Australia), an increase in the average PISA score of 25 points, would deliver through improved skills an average $65 billion in economic benefits each year until 2095. This totals a future economic benefit of AUD 5.2 trillion (discounted for inflation) until year 2095." - p. 49-50.
Topical Term Federal aid to education -- Australia
Education -- Australia -- Finance
Added Corporate Name Australian Education Union
Internet Site http://www.aeufederal.org.au/application/files/3814/6172/5096/Rorris2016.pdf
Catalogue Information 17854 Beginning of record . Catalogue Information 17854 Top of page .

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