The appropriate balance between the costs borne by individuals (in the form of tuition fees, but also living expenses and foregone earnings), by employers (by providing or funding workplace training) and those borne by the public budget implies difficult trade-offs (Figure 1.4). However, effective funding instruments exist that address objectives of efficiency and equity. However, it is the net impact of spending subsidies, taxes (or tax subsidies) and benefits that ultimately affects the expected private return on education and training.