Support to VET financing – Policy guidance note: Formula funding

A policy guidance note to support partner countries in making changes to the way they address VET financing. The emphasis is on moving away from a technical view focused on monetary and resourcing aspects, to a holistic policy-oriented vision. Supported by case studies from England and Denmark, this paper provides a discussion on the use of formula funding as the mechanism for calculating and distributing vocational education budgets to individual providers.