In its submission to the Economic Reform Roundtable, Universities Australia argues that boosting tertiary attainment and research-led innovation is essential to lifting living standards, accelerating economic growth and preparing for major transitions – from AI to net zero.
“You can’t fix productivity without fixing workforce skills and supercharging innovation – that’s where universities come in,” Universities Australia Chief Executive Officer Luke Sheehy said.
“Universities educate the professionals who will power Australia’s future – from nurses, engineers and teachers to clean energy scientists and data specialists. But outdated funding and regulatory settings are holding the system back.
“We’re delivering the skilled graduates Australia needs, expanding work-integrated learning, partnering with business to build microcredentials and conversion programs, and collaborating with small to medium businesses to turn research into commercial outcomes.
“Australia’s services sector and small to medium businesses are the backbone of our economy, but they’re often underpowered when it comes to innovation.
“Universities stand ready to help – providing the research, talent, infrastructure and partnerships small businesses need to grow, adapt and become more productive.
“We’re also leading on research workforce development and ensuring teaching keeps pace with technologies like AI.”
Universities Australia’s submission calls on the government to:
- replace the Job-ready Graduates Package to remove perverse incentives
- extend the Higher Education Loan Program to microcredentials to support lifelong learning
- boost national R&D collaboration to help SMEs innovate, and
- reform red tape to unlock time and resources for teaching and discovery.
“With over 50 per cent of new jobs over the next decade requiring a university degree, the Government’s target of 80 per cent tertiary attainment by 2050 is a step in the right direction and critical to improving productivity,” Mr Sheehy said.
“If we want a more prosperous, productive nation, we need to unleash the full potential of our people and ideas.”
Read Universities Australia’s full submission here.
