An investment research firm has called for “more investment diversification” in Australia, as it said the country’s “underinvestment” in higher education is not being reflected in the countrys highest-ranked universities.
Key points:Cambridge Investments said Australia should invest more in its higher education sector as the country “under-invested”Source: News Corp AustraliaThis comes after an Australian Federal Government report found the national university sector was “not investing” in high-quality research and teaching.
In a report released on Monday, the Cambridge Investment Research Group said Australia needed to invest more “in the investment diversity” of the Australian university sector, which it called “a crucial component of our economic success”.
“We believe the lack of investment diversity in the university sector and lack of quality research in Australia are both the primary causes of Australias low ranking in the global rankings of universities,” the report stated.
“These are critical elements for Australia to continue to thrive and prosper in a globalised world, and to ensure we have a robust, highly competitive economy.”
The report said the national government “must ensure that the funding provided to universities is not tied to the types of investments that are most important for our long-term economic success, and instead provide funding to ensure that universities are investing in the most innovative and innovative research and to create new skills and skillsets that are more in line with the needs of the 21st century economy”.
“It is time for the Federal Government to recognise that Australia is a globalising nation, and that the future of our nation depends on the investments we make in research, education and innovation,” it said.
The report also called for a greater investment in Australia’s “higher education sector”.
“While there is a long way to go before we are truly investing in our higher education infrastructure, the key is to provide a level playing field for investment in higher ed and to increase investment diversity,” the group said.
“The Government should invest in higher learning in the national and regional economies to ensure the best value for money for our nation.”
The Federal Government has previously committed to spending $100 million in 2020 to invest in “more of what is known as a research and innovation hub”.
But, the Government has not announced any new funding for the sector since a $1.5 billion initiative was launched in February last year.
Topics:education,research,jobs,government-and-politics,education-industry,education,australiaFirst posted October 03, 2018 08:35:19Contact Andrew Young