Universities Australia has welcomed the Albanese Government's 2024-25 Mid-Year Economic and Fiscal Outlook as a positive step towards building a fairer, more sustainable higher education system.
"The commitments made today recognise the vital role universities play in delivering the skills and knowledge Australia needs to drive prosperity and tackle workforce shortages," said Universities Australia Chief Executive Luke Sheehy.
"From helping more Australians from disadvantaged backgrounds access higher education to creating a funding framework that supports long-term sustainability, these investments will strengthen our universities across cities and regions, benefiting the entire nation."
Universities Australia also welcomed the establishment of the Australian Tertiary Education Commission (ATEC) to provide independent advice and drive sector reform.
"The ATEC has the potential to transform higher education by aligning funding and performance with the needs of students and the economy," Mr Sheehy said.
"We look forward to working with the Government to ensure these reforms deliver real outcomes."
Today's MYEFO highlights the vital role of international education to Australia's fiscal position, contributing more than $51 billion annually to the economy and supporting thousands of jobs nationwide.
"International education is one of Australia's largest exports. Certainty and stability are now urgently needed to ensure its continued growth and global competitiveness.
"International education is not just an economic powerhouse-it's a lifeline for the nation's budget and for communities across the country," Mr Sheehy said.
"The removal of Ministerial Direction 107 is critical to stabilising international student numbers, restoring confidence and ensuring Australia remains competitive on the global stage.
"Higher education is the backbone of Australia's future. By driving reform and working together we can build a stronger, fairer system that supports every Australian to reach their potential."
