Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I thank Senator Bilyk for her question. The Australian government is making historic changes to the way universities operate and the way they are funded. It is investing $491 million over four years to create a student centred system and to increase student numbers in the higher education sector. From 2012 universities will be funded on the basis of student demand. This will enable an extra 50,000 students to start university in 2013 and will give us 217,000 additional graduates by 2025. The government will provide a Commonwealth supported place for every domestic undergraduate student accepted to be eligible in an accredited higher education course offered by a recognised public higher education institution. This is a better system for students. It will ensure that universities cater to their needs and deliver a quality education. It is also a better system for the community. Universities will no longer receive funding for places they do not deliver and a new system will reward universities that are able to attract more students. This will ensure that taxpayers’ money is put to the best possible use and will give universities a strong incentive to achieve excellence in teaching and learning. This landmark reform will help us achieve our ambition to increase the proportion of 25- to 34-year-olds with bachelor-level qualifications to 40 per cent by 2025. This is a critically important matter. We want to create a modern economy based on advanced skills and technologies.