University Investment Welcomed

Media Release 19 May 2005

UNIVERSITY INVESTMENT WELCOMED

Increased Government investment in universities delivered through today’s Budget has been welcomed by the NZ Vice-Chancellors’ Committee.

“It is good to see the Government has heeded the Committee’s call to invest more in universities to enhance economic and social development. The key consideration now is to ensure that increased investment continues,” NZVCC chair Professor Stuart McCutcheon says.

The emphasis on quality and relevance for future tertiary education funding was of particular importance to universities, especially the increase in funding rates for science, agriculture, horticulture and some medical subjects. Extra funding of $75.5 million over four years for the Performance-Based Research Fund was especially significant as universities delivered a large part of the annual national research output.

Other Budget initiatives affecting universities were the overall 2.6 per cent increase in per student funding and a boost for student financial support. Professor McCutcheon said that taken together, Budget tertiary education moves represented a vote of confidence in New Zealand’s universities as quality providers of tuition and research.

ENDS

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