Go8 Submission: Go8 Submission to the Senate Economics Legislation Committee inquiry: Budget Savings (Omnibus) Bill 2016

9 Sep 2016
The Group of Eight (Go8) welcomes the opportunity to make a submission to Senate Economics Legislation Committee inquiry into the Budget Savings (Omnibus) Bill 2016.

The Go8 comprises Australia’s leading research intensive Universities. In 2015 collectively we educated nearly 367,000 students or 26% of students in Higher Education in Australia.

On latest available figures our investment in Research and Development is over $6 billion and we earn two-thirds of the research income earned by Australian universities through collaboration with industry.

In this context, the Go8 submission responds to the measures in the Omnibus Bill related to Higher Education and Research. In particular:

Schedule 1—Minimum repayment income for HELP debts;

Schedule 2—Indexation of higher education support amounts;

Schedule 3—Removal of HECS-HELP benefit;

Schedule 5—Australian Renewable Energy Agency’s finances;

Schedule 11—Student start-up scholarships; and

Schedule 22—Rates of R&D tax offset.

In making this submission the Go8 recognises the importance for Budget repair in the current fiscal environment.

Please note that the comments and recommendations below represent the views of the Go8 network; member universities may also make their own, more detailed submissions.  

Click here for the full submission.