ISA has prepared this submission in response to the Productivity Commission’s inquiries into its five pillars of productivity. ISA consulted with the state and territory Associations of Independent Schools (AISs) in preparing this submission.
The collective impact of education on productivity is profound and well documented. A well-educated population fosters a dynamic economy characterised by technological progress, entrepreneurship, and efficient allocation of resources.
Societies that prioritise schooling are better equipped to respond to changing economic landscapes, as their workforce is both versatile and quick to adapt. In this way, investment in education not only empowers individuals but also drives sustained economic growth and prosperity for entire communities.The Independent school sector also contributes significantly to the Australian economy, including an investment of $10.6 billion into education by parents and families:
- Independent schools saved governments an estimated $8.5 billion in 2023-24 in recurrent costs and an estimated that an additional $2.6 billion in infrastructure costs.
- Every student in an Independent school reduces the funding burden on government schools, as their education is heavily subsidised by parents and families. Each Independent school student receives on average $11,700 less recurrent government funding than students in government schools.
Recent research commissioned by ISA estimates that the enhanced educational outcomes provided by Independent schools contributed an estimated $1.55 billion to growth in GDP in 2023-24. This economic benefit is provided annually as a result of quality of learning and teaching, that supports students in achieving excellent outcomes across a range of educational measures.
These figures only serve to reinforce the importance of the provision of quality education in improving productivity nationally.The figures above illustrate the significant contribution that Independent schools make to the Australian economy. To ensure this value is not eroded, schools must be supported to deliver high-quality education to the future Australian workforce through initiatives and platforms which facilitate teacher-led learning and the autonomy of Independent schooling.