The Prime Minister says Australia will reach its 80 per cent double vaccination target some time today, a milestone in the country's reopening plan.

Speaking from below ground at a tunnelling breakthrough site in Sydney, Mr Morrison said by the day's end four in five eligible Australians will have received two jabs of the COVID-19 vaccine.

"There's another breakthrough that we're going to go through today, and that is 80 per cent of Australians aged over 16 will be double-vaccinated today," Mr Morrison said.

"That will be another massive breakthrough for Australia."

Eighty-nine per cent of Australians over 16 have received at least one COVID-19 jab.

Just shy of 70 per cent of children aged 12 to 15 have received at least one vaccine dose, and just under half are fully vaccinated.

The pace of vaccinations is still keeping up, with 1,135,869 doses delivered in the last seven days, though it has slowed from September and October.

Across the states, South Australia, Western Australia, Queensland and the Northern Territory are all yet to clear the 70 per cent fully-vaccinated hurdle.

What does the 80 per cent milestone mean?

The 80 per cent double vaccination milestone marks the next official step in the federal government's staged reopening plan — though the states have largely set their own paths.

Under the national plan, once the national average and an individual state or territory's vaccination rate reaches 80 per cent, that state or territory can move to the "Consolidation Phase".

That includes minimal ongoing restrictions, such as social distancing measures in indoor spaces, and highly targeted lockdowns of specific areas or populations only, rather than city or statewide lockdowns.

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Caps on returning vaccinated Australians are also abolished, restrictions on outbound travel are lifted, and the cap for students and other visa holders is increased.

Many of these changes have already been made in NSW, the ACT and Victoria, where vaccination rates are well above 80 per cent.

Hospital funding to remain in place

As the country reopens and COVID-19 cases and hospitalisations rise, state health ministers have asked the government to provide an immediate increase to hospital funding.

But the federal government has ruled out an increase in funding.

Mr Morrison confirmed today current hospital funding arrangements would remain in place, despite the push by some states and territories for more Commonwealth support.

But the federal government has extended a minimum funding guarantee for hospitals so they do not unintentionally lose funding because of disruptions caused by COVID.

The Prime Minister said there would be no other changes to hospital funding arrangements or paying for COVID-related health care.

State and territory leaders will again discuss hospital funding this afternoon when they meet with the Prime Minister for National Cabinet.

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