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A knowledge driven economy

Measures to support our education and innovation systems are crucial to long-term growth, jobs and productivity. By investing now, the Government will prepare Australia for sustainable growth beyond the global financial crisis and help to create a stronger, fairer and more prosperous nation.

A vision for the future

Major reforms to higher education include:

  • an uncapped demand‑driven university system from 2012
  • goals for attainment and low SES enrolment backed by funding
  • a student income support system that is aligned with need
  • improved indexation arrangements which better support the sector for the long‑term across learning, teaching and research
  • a new national regulator and quality assurance system, linked to performance funding.

Major reforms to Australia's innovation and research systems include:

  • shaping research and innovation policy through aspirations for 2020
  • boosting research funding and encouraging research excellence
  • supporting business and public sector innovation and collaboration.

Underpinning these reforms, the Government will invest in a range of education and research infrastructure projects which will build on the Government's significant investments in infrastructure in 2008 and 2009.

New higher education and innovation funding $5.7 billion(a)

Chart: New higher education and innovation funding $5.7 billion

(a) includes $68 million in 2008‑09 and $25 million in 2013‑14 for infrastructure.