Universities Australia, in its submission to the country's Productivity Commission, has pointed out that Australia needs a research investment boost to enhance the nation's productivity in the coming days.
A slight increase of investment by one per cent in university research and development can deliver USD 2.4 billion for Australia annually.
Universities Australia's chief executive Catriona Jackson said that the country's enviable economic growth, low unemployment rate and high living standards rely on improving productivity. However, productivity growth has slowed down lately.
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Australian universities are helping build the workforce of tomorrow by producing high-skilled graduates to generate futuristic ideas with business innovation, Jackson said. During an interview, she also highlighted the need for funding by strengthening collaboration between the industry and university sectors.
Giving an example of Australia’s National Skills Commission report, Jackson said that in the coming five years around 6,00,000 jobs in Australia would “require a university degree, or higher”, thereby there is a need for university education in the workforce and for the sector to be strengthened overall.
Providing solutions for the same, she said that two things are important for the future of the company - "a little bit more money from the government, universities, industry" and promoting the uptake of university education.
Meanwhile, Universities Australia has given other recommendations in its submission to the Productivity Commission. The recommendations include: expanding university places to meet the growing need for skilled graduates, enabling access to all Aboriginal and Torres Strait Islander students at university places, and supporting people who aspire to upskill and retrain quickly through micro-credentials.
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Universities Australia further suggested supporting the usage of technology to help health professional students with practical learning and complete the course on time. They also urged to remove red tape burdens that inhibit peak performance, alongside other measures.
Source: The PIE News
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