This paper examines key aspects of potential voucher reforms for the Australian school system. The next section will discuss some of the basic mechanics of voucher funding schemes.

Some potential voucher options, and their budgetary cost to governments, will be canvassed. Other issues will then be explored, including the impact of federalism and distributional issues. An examination of the international literature on the effectiveness of school vouchers will also be undertaken.

As will be noted below, for less than the total cost of the government's education revolution spending to date, Australian governments can embark on real funding reform - via a voucher system - that unlocks constraints on choice and meaningfully tackles educational disadvantage in our communities.