A knowledge driven economy
Measures to support our education and innovation systems are crucial to long-term growth, jobs and productivity. By investing now, the Government will prepare Australia for sustainable growth beyond the global financial crisis and help to create a stronger, fairer and more prosperous nation.
A vision for the future
Major reforms to higher education include:
- an uncapped demand‑driven university system from 2012
- goals for attainment and low SES enrolment backed by funding
- a student income support system that is aligned with need
- improved indexation arrangements which better support the sector for the long‑term across learning, teaching and research
- a new national regulator and quality assurance system, linked to performance funding.
Major reforms to Australia's innovation and research systems include:
- shaping research and innovation policy through aspirations for 2020
- boosting research funding and encouraging research excellence
- supporting business and public sector innovation and collaboration.
Underpinning these reforms, the Government will invest in a range of education and research infrastructure projects which will build on the Government's significant investments in infrastructure in 2008 and 2009.
New higher education and innovation funding $5.7 billion(a)
(a) includes $68 million in 2008‑09 and $25 million in 2013‑14 for infrastructure.