Gavin Marshall (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Innovation, Industry, Science and Research, Senator Carr. Can the minister inform the Senate about the government’s new investments in higher education and what they will mean for Australia’s universities and research?

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

I thank Senator Marshall for his question, and it follows his longstanding interest in matters to do with innovation, industry, science and research. This is a great day for Australian higher education. This is a great day for innovation and research. Last night’s budget pulls money from the Higher Education Endowment Fund and the budget surpluses of 2007-08 and 2008-09 to create an $11 billion Education Investment Fund. There will also be scope to add money from surpluses beyond 2008-09 to this pot.

The Education Investment Fund will be used to support and innovate universities, vocational education and training institutions, research facilities and research organisations. It will transform our capacity to build skills and create new knowledge. Disbursements from this fund will begin in 2009-10 after the government has completed its review of the higher education system and the national innovation system. To address immediate needs, however, the budget also includes $500 million for a Better Universities Renewal Fund. This is a special allocation for the years 2007-08 and it will be used to improve teaching, research and student facilities. Priority will be given to investing in ICT, laboratories, libraries, student study spaces, teaching spaces and student amenities.

We are investing in higher education infrastructure because we need to meet the challenges of the future and we are investing in the people who will help build this country’s future. That is why this budget includes $238 million over four years to double the number of undergraduate scholarships; $209 million over four years to double the number of Australian postgraduate awards; $562 million over four years to reduce HECS fees for new students of maths and science; $63 million over four years to refund HELP repayments to maths and science graduates working in related occupations, including teachers; and $10 million over four years for researchers in business to help small and medium-sized firms develop and commercialise their ideas. Then there is $326 million over four years to establish the Future Fellowships scheme, which will enable 1,000 mid-career researchers to undertake major research projects.

For 11 years, we have seen those opposite try to dumb down Australia. They have neglected education. They have punished innovation and they have scorned new ideas. This country is now paying the price. In the latest world competitive rankings, for instance, the IBM Business School shows that we have slipped from sixth in 2006 to 12th in 2007. The report shows that the biggest challenge this country faces is in boosting higher education, boosting skills, encouraging innovation and investing in infrastructure. Australia under the Rudd Labor government at last has a government ready to meet these challenges. For anyone who cares about this country’s future, it is an important matter and it has not come a moment too soon. (Time expired)