A one percent increase in higher education research and development funding could grow Australia's economy by $24 billion over ten years, the peak body for the university sector claims.
Universities Australia's submission to the Productivity Commission's inquiry into the nation's productivity has made the case for a modest increase to research and development spending as Australia falls behind the OECD average.
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Universities Australia chief executive Catriona Jackson said every Australian would benefit from increased investment.
"Our university sector is at the heart of driving Australia's productivity, through the highly-skilled graduates we produce and the technological and social innovation we generate through research," Ms Jackson said
"University graduates and researchers continue to tackle the biggest challenges, from developing new technologies and industries to responding to crises such as global pandemics and climate change."
In its submission, Universities Australia argues for a shift to direct support programs for research and development and away from indirect schemes, such as tax concessions.
The submission recommends uncapped places should be available for all Aboriginal and Torres Strait Islanders students, not just those from regional and remote areas, considering 75 per cent of this population live in cities.
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It recommends the number of fully-funded university places grow to meet the skills needs of the nation, in line with the National Skills Commission prediction that 600,000 new jobs in five years to 2026 will require a bachelor degree or higher.
It also urges the Productivity Commission to support extending the higher education loan program to cover university micro-credentials.
It makes the case for a time-limited fund to help clear the backlog of health students needing to do clinical placements and for grants to help universities update their clinical education technology.
The Productivity Commission is expected to release interim reports on the inquiry from July to September.
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Sarah Lansdown
Sarah covers all stages of education in the capital, from early childhood to higher education. Previously she was a general news reporter at The Advocate in North West Tasmania. She was named Best New Journalist at the 2019 Tasmanian Media Awards for a series on paramedic shortages. Email: sarah.lansdown@canberratimes.com.au
Sarah covers all stages of education in the capital, from early childhood to higher education. Previously she was a general news reporter at The Advocate in North West Tasmania. She was named Best New Journalist at the 2019 Tasmanian Media Awards for a series on paramedic shortages. Email: sarah.lansdown@canberratimes.com.au
