Ms Julie Bishop (Curtin, Liberal Party, Minister Assisting the Prime Minister for Women's Issues) Share this | Hansard source

I thank the member for Solomon for his question. I can confirm that, last night, the Treasurer announced an unprecedented investment in our universities—a $1.7 billion package of funds for our universities, plus a $5 billion Higher Education Endowment Fund. The income from this fund, which we estimate to be about $300 million a year, will be distributed to universities. They will be able to use this fund to invest in capital works and research facilities. We believe that over time all universities in Australia will be able to build world-class facilities so that our students will have the opportunity to study in world-class institutions.

Our universities will be able build state-of-the-art facilities, science blocks, computer laboratories, libraries and lecture theatres. This will apply to universities across the country, including universities in the member for Solomon’s electorate, particularly Charles Darwin University. Charles Darwin will also be eligible for a range of other initiatives contained in this higher education package. The raft of reforms will give our universities the freedom, the flexibility and the funding to manage student demand and to offer courses that students want to study.

Last night the Treasurer announced that almost $560 million in additional funds will be available for universities to deliver high-quality courses in areas of national need—in science, maths, engineering, allied health, medicine, dentistry, nursing and teaching. I want to point out that our universities will receive more funding for our teaching courses and more funding to improve the practical experience of student teachers so that our universities will be able to produce high-quality teaching graduates for our schools.

We are also going on to support teachers in schools. Teachers will be eligible to apply for Australian government summer schools, where they can upskill their qualifications and abilities in areas and receive a $5,000 bonus on completion. We will also reward schools that make a significant improvement in the literacy and numeracy standards of their students. These schools will be eligible for rewards of up to $50,000.

With a total package of $3.5 billion for schools and universities, plus the $5 billion Higher Education Endowment Fund, we have put our schools and universities in a strong position. This was possible only because of the strong economic management of the Howard-Costello government; it was possible only because we had budget surpluses. The Labor Party can only dream of coming up with initiatives that put our universities on a sustainable, long-term footing. This is unprecedented.

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