Universities ready to spend $1bn

Andrew Trounson December 12, 2008
Article from: The Australian
http://www.theaustralian.news.com.au/story/0,25197,24789948-12332,00.html

UNIVERSIITES are vowing to start spending almost immediately some $1 billion in fast-tracked infrastructure funding from Canberra.

After months of intensive lobbying, the sector has received an early Christmas present from the Rudd Government with $500 million in one-off funding for teaching and learning infrastructure, of which much will go into refurbishing facilities built during the 1960s and 1970s.

"This will be a significant boost for the construction industry and it will have a real impact on the economy," said Paul Johnson, vice-chancellor at La Trobe University and an expert on economic and social development.

The higher education infrastructure funds are part of a nation-building exercise as the Government attempts to head off a severe economic downturn.

Canberra has also increased by $276 million the amount of funding for new projects under the Education Investment Fund, and will now fund 11 of the 14 short-listed projects at a total cost of $580 million.

There is a one-off injection of $500 million for vocational education and training infrastructure, of which $400 million will be made available to public TAFEs and a further $100 million for other not-for-profit providers of adult and community education. With most of the additional funding coming outside the $8.7 billion EIF, universities hope there will be significant ongoing money for infrastructure.

The sector believes it is facing a total backlog in infrastructure spending of $10 billion-$15 billion.

“These funds will have a tangible and almost immediate impact on our universities,” RMIT vice chancellor Margaret Gardner said in a statement on behalf of the Australian Technology Network of universities.

“It's welcome, it's unexpected and it can be put to good use immediately,” Professor Gardner said. The funds will be available from 1 July. The $500 million one-off funding for universities will be allocated according to student load, while research intensive national university ANU will receive an additional $10 million top-up.

The funding comes on top of the $500 million Better Universities Renewal Fund distributed earlier this year. Of the 14 short listed projects under the EIF, the three that missed out were Murdoch University's "pedagopolis" education facility, ANU's giant Magellan telescope and Ballarat's innovation and enterprise centre.

The biggest winner was Sydney University's new Centre for Obesity, Diabetes and Cardiovascular Disease, which was awarded $95 million. Next in line were $90 million for Melbourne's Peter Doherty Institute for Immunity and Infection and $89.9 million for Monash's New Horizons Centre for science and engineering.