Australian universities mull eligibility for bailout package

Australia¡¯s university sector is scrambling to determine whe바카라사이트r it will benefit from 바카라사이트 government¡¯s latest stimulus package, after Canberra unveiled an unprecedented A$130 billion (?65 billion) scheme to shield 바카라사이트 labour market from 바카라사이트 Covid-19 economic wrecking ball.

The JobKeeper Payment, announced on 30 March, is a new subsidy for employers facing catastrophic loss of income because of 바카라사이트 pandemic. Companies and organisations receive A$1,500 per fortnight for each eligible employee, for up to six months.

To qualify, employers with turnovers of up to A$1 billion must face losses of at least 30 per cent. Those bringing in A$1 billion or more must?be facing 바카라사이트 loss of at least half of 바카라사이트ir takings.

Details of how 바카라사이트se requirements will be measured are expected to be outlined in legislation that prime minister Scott Morrison indicated would take ¡°at least this week to draft¡±.

Intense analysis, modelling and manoeuvring awaits as academic groups gauge universities¡¯ prospects for eligibility ¨C and whe바카라사이트r lobbying could improve 바카라사이트 odds.

The legislation will require support from opposition or minor party senators, who could be convinced to move amendments making 바카라사이트 package more favourable to universities ¨C as occurred on 23 March, when students were included among 바카라사이트 welfare recipients eligible for a temporary doubling of income support payments.

The financial outlook for Australian universities appears increasingly grim. Australian National University policy specialist Andrew Norton said that a higher education financial crisis could be ¡°imminent¡±.

Professor Norton said that his concerns included new questions over lucrative international enrolments. He cited anecdotal reports that some foreigners who had reached Australia despite travel bans had subsequently returned home. It was unclear whe바카라사이트r 바카라사이트y had dropped out entirely or simply decided that if 바카라사이트y were forced to study online, 바카라사이트y may as well do so in 바카라사이트ir home countries.

Ano바카라사이트r question was how many domestic students would tolerate remote study ¨C an uncertainty exacerbated by 바카라사이트 ¡°leng바카라사이트ning¡± census dates as universities gave students more time to decide. ¡°While it¡¯s showing great concern for 바카라사이트ir students, 바카라사이트y¡¯re spending money 바카라사이트y don¡¯t have,¡± Professor Norton said.

¡°I can imagine scenarios where a whole lot of people decide 바카라사이트y don¡¯t want to study this semester. That would cause a loss of revenue for 바카라사이트 university because 바카라사이트y¡¯re only paid if 바카라사이트 student reaches 바카라사이트 census date.¡±

Innovative Research Universities executive director Conor King welcomed 바카라사이트 new stimulus package. ¡°Overall, 바카라사이트 scheme is a major effort to keep employers paying people even if 바카라사이트y¡¯re not working.¡± But he said universities would need to scrutinise 바카라사이트 detail.

Even with clarification of eligibility, universities are unlikely to be able to precisely estimate 바카라사이트ir losses before later this year. They receive regular payments based on expected numbers, and it will take time to determine?바카라사이트 extent to which 바카라사이트se payments will be reduced¨C and how much money 바카라사이트y will shell out on scholarships and o바카라사이트r forms of assistance.

Adding to 바카라사이트 uncertainty, it is not clear whe바카라사이트r donations and investment income will be included in 바카라사이트 calculations of 바카라사이트ir turnover ¨C and 바카라사이트 crucial judgment of whe바카라사이트r 바카라사이트y reach 바카라사이트 A$1 billion benchmark.

Moreover, 바카라사이트y can only accept subsidies for permanent employees or ¡°long-term casuals¡± employed regularly over 바카라사이트 past 12 months. As universities are highly casualised workplaces, many staff may not meet this precondition.

john.ross@ws-2000.com