CANBERRA, March 24 (Xinhua) -- The Australian government has secured agreements with every state and territory to put all public schools on the path to full and fair funding, representing its biggest new investment in public education to date.

Under these "historic agreements," the federal government will increase its contribution to the Schooling Resource Standard from 20 percent to 25 percent by 2034, except for the Northern Territory, which will see its share rise to 40 percent by 2029, Australian Prime Minister Anthony Albanese said on Monday.

This reform will inject an estimated 16.5 billion Australian dollars (10.37 billion U.S. dollars) in additional funding into public schools over the next decade, Albanese said, adding the funding is tied to critical education reforms aimed at improving student outcomes, increasing mental health support in schools, and supporting teachers.

The agreements also set national targets to increase Year 12 completion rates to their highest level in 2030, raising student attendance rates to pre-pandemic levels -- 91.4 percent, and boosting teacher education engagement rates by 10 percentage points by 2035.

Albanese said this funding is an investment in Australia's future, ensuring every child has access to a quality education.

Education Minister Jason Clare hailed the agreements as a "game-changer" for public education, providing a 70 percent increase in federal funding per student when fully implemented.

"This is real funding tied to real reform to get real results," Clare said. Enditem

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