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Budget Speech

Continuing Education and Training

110.    Continuing education is crucial to productivity enhancement and economic development.  EDB plans to establish an endowment fund of $1 billion to provide a steady source of funding to support the sustainable development of the QF, benefitting employees and employers, education and training providers, assessment agencies and quality assurance bodies.  We hope this initiative will encourage continuous learning among practitioners of the sectors concerned.

111.    In 2014-15, the Employees Retraining Board (ERB) will offer 130 000 training places and services for those aged 15 or above with education attainment at sub-degree level or below.  Resources have also been reserved to provide an additional 40 000 places to meet the potential demand from the employment market.  The Finance Committee of this Council has approved Government's injection of $15 billion into the ERB as part of our long-term support.



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