Albanese to announce $10,000 cash bonuses for apprentices in residential construction at National Press Club.

Prime Minister Anthony Albanese will announce a new policy at the National Press Club, offering a $10,000 cash bonus to apprentices in residential construction. This incentive aims to support the training of the next generation of tradespeople and address workforce shortages in a sector facing significant challenges.

The funding, totalling $626.9 million, is meant for over 60,000 apprentices, with payments made in five $2,000 instalments throughout their apprenticeship. However, previous similar initiatives, such as a scheme for green jobs, attracted only 2,200 participants, indicating potential difficulties in reaching the target.

Albanese’s address marks a year since he introduced changes to stage three tax cuts. He aims to tackle the housing crisis by increasing the number of new homes, with a goal of 1.2 million in five years. Achieving this will require 90,000 additional workers, as identified by construction industry leaders.

The announcement will also include plans to increase allowances for apprentices living away from home and a commitment to making fee-free TAFE subsidies permanent, allowing more Australians to gain vocational skills without financial barriers.

Labor’s housing strategy contrasts with the Coalition’s approach, which supports first homebuyers using superannuation savings for deposits. The debate over vocational training continues, with calls to encourage trades over university degrees, highlighting the importance of skills in the current economic climate.