THE Federal and NSW State Governments have agreed to fully and fairly fund New South Wales public schools.

As part of the Heads of Agreements signed Tuesday, the Commonwealth will provide an additional five per cent of the Schooling Resource Standard to New South Wales.

This will lift the Commonwealth contribution from 20 per cent to 25 per cent of the SRS by 2034 and follows New South Wales delivering its election commitment to reach 75 per cent of the SRS in 2025.

This will see an estimated $4.8 billion in additional Commonwealth funding to New South Wales public schools over the next 10 years.

New South Wales has also committed to removing the four per cent provision of indirect school costs such as capital depreciation so that state schools will be fully funded over the life of the Agreement.

Commonwealth funding will be tied to the reforms needed to lift education standards across the country, including more individualised support for students, continuing evidence-based teaching practices, and more mental health and wellbeing support for schools.

The Agreement will be accompanied by a New South Wales Bilateral

The agreement with New South Wales follows agreements with Western Australia, the Northern Territory, Tasmania, the Australian Capital Territory, South Australia and Victoria.

The Commonwealth is continuing to work with Queensland.

Prime Minister Anthony Albanese said building Australia’s Future means investing in the next generation.

“That’s why every dollar of this funding will go into helping children learn,” he said.

“We know that education opens the doors of opportunity, and we want to widen them for every child in Australia.

“This is about investing in real reform with real funding – so all Australian children get the best possible education.”

New South Wales Premier Chris Minns said public education is the best investment any government can make.

“Every dollar spent in this space is a dollar spent on the future of our country,” he said.

“Every single child in Australia has the right to a quality, free public education and we are proud to work with the Albanese Labor Government to ensure New South Wales schools are fully funded.

“We’ve seen a 40 per cent reduction in teacher vacancies since we came to government, but we know there’s still more to do.

“This investment is vital as we work to lift education standards across the state by ensuring there is a qualified, dedicated teacher at the front of the classroom.”

Quotes attributable to Minister for Education, Jason Clare, said the agreement will help more than 780,000 kids in more than 2200 public schools.

“This is big. The biggest state in the country has now signed up,” he said.

“This is real funding tied to real reforms to help students catch up, keep up and finish school.

“It’s not a blank cheque. I want this money to get results.

“That’s why funding will be directly tied to reforms that we know work.

“It will help make sure every child gets a great start in life. What every parent wants. And what every Australian child deserves.”