Nearly Half of Universities Have Operated at a Deficit Over Five Years, Report Reveals
Australia’s universities are facing increasingly narrow financial margins, according to a recent report published by Universities Australia.
The report, entitled Critical challenges in Australia’s university sector: securing a sustainable future, highlights that more than 40% of universities have recorded deficits for the majority of the past five years.
It also notes that the average funding per Commonwealth supported student place has declined by 6% in real terms since 2017. The report warns that research funding is under threat as universities are compelled to finance research activities themselves, with investment in research and development having dropped to a 20-year low, now at 1.7% of GDP.
"Our universities are not just economic engines – they are places where people build their futures, where talent is nurtured and where opportunity is expanded for the next generation," said Universities Australia chair, Prof Carolyn Evans.
Chief executive officer Luke Sheehy described the report as a reality check, stating, "There’s a myth that universities are awash with money. The numbers tell a very different story. You can’t ask universities to educate more students, deliver more research and drive productivity while steadily reducing funding per student. At some point, the maths catches up."
Live News Update: Bomb Threat Prompts Evacuation of Anthony Albanese
Good morning and welcome to our live news blog. I’m Martin Farrer, bringing you the top stories from overnight, with Nick Visser to follow.
The major story this morning concerns a bomb threat that led to the evacuation of Prime Minister Anthony Albanese from The Lodge. After a thorough search of the residence, he returned approximately three hours later. We will provide the latest updates from Canberra shortly.
In other news, the financial challenges faced by Australia’s universities continue to deepen, as the recent report indicates that over 40% have been operating at a deficit for most of the last five years. Further details will be shared as they become available.
