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Media Release
REVIEW OF HIGHER EDUCATION INDEXATION ARRANGEMENTS
19 April, 2005 MIN 1090/05
I am today releasing the review of indexation arrangements in the higher education sector.
The review was undertaken by my Department, in cooperation with the Department of Finance and Administration, and in consultation with the Department of the Prime Minister and Cabinet, and the Treasury.
The Higher Education Support Act 2003 required the Government to undertake the review and respond to it by April 2005.
The Australian Vice Chancellors’ Committee provided a submission to the review and I thank the Committee for its contribution.
After considering the findings of the report on the review of indexation, the Government has concluded that there is not a strong case for a change to the current indexation arrangements at this time.
This year alone around $8 billion will be provided to the higher education sector. Over the next four years $36 billion will be provided by the Australian Government on behalf of taxpayers.
The report states that:
“Given the generally strong financial health of the sector, its enhanced scope to generate and retain revenues, and recent Budget supplementation which will provide additional funding of $2.6 billion over the five years to 2008, the review considers that immediate consideration of further resourcing to the sector would be premature.”
The higher education sector will receive significant additional funding through a range of reforms underpinning the Howard Government’s Our Universities: Backing Australia’s Future package. This package, which totals more than $11 billion in additional financial support, will serve to ensure the sustainability and quality of Australia’s higher education sector into the future.
The review of higher education indexation arrangements is available at: http://www.dest.gov.au/highered/pubs/indexation/indexation_arrangements.htm
Media Contacts:
Dr Nelson’s Office: Yaron Finkelstein 0414 927 663
Dept of Education, Science & Training: Jenni Hudson 02 6240 7732
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