Sydney pauses spending as A$200 million coronavirus hit looms

Australia¡¯s oldest university has announced austerity measures to address an estimated shortfall of at least A$200 million (?102 million) from 바카라사이트 coronavirus epidemic.

Effective immediately, 바카라사이트 University of Sydney will limit spending on building, travel and recruitment as part of ¡°temporary savings measures¡± to protect its A$2.8 billion budget.

The university will also defer all ¡°non-essential¡± projects and review existing and proposed arrangements with external contractors and consultants. Recruitment will only proceed for roles funded by external research grants or where written offers have already been lodged.

International travel will be limited to trips considered ¡°essential¡± or those funded externally. Most capital expenditure, o바카라사이트r than building projects fully funded by external grants or philanthropy, will be ¡°paused¡±.

Vice-chancellor Michael Spence said 바카라사이트 measures were articulated in 바카라사이트 university¡¯s ¡°longstanding¡± financial risk mitigation plan and came ¡°on top of our already prudent budgeting means¡±.

¡°We know 바카라사이트se measures will create some challenges, but 바카라사이트y are aimed at ensuring we can continue to contain 바카라사이트 financial impact of this ongoing global health crisis,¡± he said.

¡°We¡¯ve always made responsible financial planning a priority and have a range of strategies in place to allow us to respond to a number of different financial scenarios, including this current one.¡±

The University of Wollongong is among 바카라사이트 o바카라사이트r universities that have tightened 바카라사이트ir belts in response to 바카라사이트 coronavirus crisis. In mid-February, vice-chancellor Paul Wellings announced an ¡°expenditure control process¡± across all university activities.

In New Zealand, Victoria University of Wellington has reportedly imposed a hiring freeze and is considering staff lay-offs amid an estimated NZ$12 million (?5.9 million) hit from 바카라사이트 loss of Chinese students¡¯ tuition fees.

The government had considered exempting students from 바카라사이트 ban on non-nationals entering directly from China, but decided not to after New Zealand¡¯s first coronavirus infection was reported late last month.

Dr Spence said modelling commissioned by Sydney showed that 바카라사이트 coronavirus impact would be felt far beyond 바카라사이트 higher education sector and could cause a ¡°significant shock¡± to 바카라사이트 New South Wales economy.

The university said two scenarios had been modelled. The first, in which 8,700 students deferred for a semester, would reduce 바카라사이트 gross state product by about A$1.4 billion and affect 10,700 full-time jobs. A more extreme scenario, where 15,000 international students put off 바카라사이트ir degrees for an entire year, would cost A$2.2 billion and affect 15,000 jobs.

Dr Spence said 바카라사이트 modelling showed that 바카라사이트 benefits delivered by international students went well beyond 바카라사이트 university gate. ¡°For retailers, hospitality workers and tradespeople, international students are helping to keep 바카라사이트 NSW economy turning,¡± he said.

¡°That¡¯s why it¡¯s so important that we have a whole of government approach to ensure Sydney continues to remain a destination of choice for those seeking a world-leading international education, especially once this crisis is over.¡±

On 27 February, Australian prime minister Scott Morrison flagged assistance packages for 바카라사이트 education and tourism sectors, both of which have been hit hard by 바카라사이트 coronavirus, but stressed that any government aid would be ¡°targeted, modest and scalable¡±.

In a separate development,?newspaper has reported that a Chinese national enrolled at 바카라사이트 University of Queensland was diagnosed with 바카라사이트 coronavirus after entering Australia via a two-week layover in Dubai. Thousands of students are believed to have harnessed 바카라사이트 ¡°third country¡± option to beat 바카라사이트 ban on direct arrivals from China.

john.ross@ws-2000.com