The review, led by Emeritus Professor Martin Bean CBE and Emeritus Professor Peter Dawkins AO, makes seven recommendations to further strengthen the relationship between universities and business.

Universities Australia Chief Executive Catriona Jackson said that Australia’s universities have been leading the way on creating work placement opportunities for students.

“The latest study tells us that, every year, more than 450,000 students take up formal work placements, projects with industry or community groups and practical simulations of the tasks that they will be doing on the job,” Ms Jackson said.

“Our only constraint has been the number of places available for students.”

“Extra support for business and universities to provide work integrated learning opportunities will pay significant dividends for graduates and national prosperity.”

“We have seen, over many years, that students, industry and our economy benefits from equipping graduates with practical experience before they enter the workforce. We know that training and working in a job relevant to a desired occupation accelerates the path to full-time employment.”

“We are pleased there is confirmation that the Undergraduate Certificate will remain a qualification until 2025, along with the roll-over of funds to support them. Certainty and ongoing, recurrent support will be needed.”

“We also welcome the Government’s announcement that it will support further innovation in microcredentials in partnership with industry.”