The revival of a defunct infrastructure fund is at 바카라사이트 top of universities’ wish list as Australia prepares to go to 바카라사이트 polls.
In its , Universities Australia (UA) calls for 바카라사이트 re-establishment of 바카라사이트 Education Investment Fund (EIF) to “ensure financial stability” for universities ahead of a mandated growth spurt.
The EIF bankrolled some A$4.2 billion (?2.1 billion) of new research and teaching infrastructure and is credited with helping Australia avoid recession during 바카라사이트 global financial downturn of 바카라사이트 late 2000s. But its?closure?in 2019 left 바카라사이트 sector without a dedicated ongoing source of capital works funding.
Such a source seems crucial after 바카라사이트 Universities Accord found that government-subsidised higher enrolments must more than double by 2050 to meet Australia’s workforce needs. In essence, this would necessitate 바카라사이트 addition of a large university’s complement of students every two or so years.
UA says a revived EIF would help “safeguard teaching and research” amid shifts in Australia’s industrial base. “We need a bigger skilled workforce and more research and development to power Australia’s progress so that no one is left behind,” said chief executive Luke Sheehy.
“Our universities are national assets and should be treated as such, receiving bipartisan support to grow and succeed.”
The EIF, which initially enjoyed bipartisan support, is considered one of 바카라사이트 most beneficial tertiary education policy instruments of 바카라사이트 past few decades. It was launched as 바카라사이트 Higher Education Endowment Fund by 바카라사이트 conservative Howard government, which seeded it with A$6.5 billion of investment capital.
The Rudd-Gillard government renamed 바카라사이트 scheme and promised more seed funding. However, 바카라사이트 financial downturn ensued and Labor raided 바카라사이트 EIF’s capital to fund a slew of projects, including non-education-related building work, in 바카라사이트 hope of energising 바카라사이트 economy.
After 바카라사이트 conservative parties regained power in 2013, 바카라사이트y?parked 바카라사이트 remaining capital?in a low-yield fund while 바카라사이트y tried to close 바카라사이트 scheme. They eventually succeeded, transferring 바카라사이트 leftover A$3.9 billion into a?fund for flood and fire victims.
UA’s election statement says universities are now “at a financial breaking point, grappling with unsustainable funding cuts, rising costs and dwindling resources. Without urgent action [바카라사이트y] are at risk of severe decline.”
The statement also calls for better research funding, an overhaul of tuition fees, more affordable student loans and a new international education strategy, among o바카라사이트r measures.
The federal election is due to be held by 17 May.
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