Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Govt uni investment up 13.5% in four years

Hon Steven Joyce
Minister for Tertiary Education, Skills & Employment

23 May 2012

Govt uni investment up 13.5% in four years

The Government has increased its investment in New Zealand’s universities by 13.5 per cent over the past four years, latest figures from the Tertiary Education Commission show.

Minister for Tertiary Education, Skills and Employment Steven Joyce says New Zealand’s universities continue to sustain strong financial performances that reflect the increasing size of the Government’s investment in them.

“The Government invested $1.394 billion, primarily in tuition subsidies and the Performance Based Research Fund, in the university sector in 2011. This funding is an increase of 3.6 per cent on 2010 levels and an increase of 13.5 per cent on annual government funding levels since 2008,” Mr Joyce says.

The numbers do not include additional funding paid over for research from other budgets like Vote Science and Innovation and the Primary Growth Partnership.

“The increased investment in universities has been achieved in very tight fiscal circumstances and has resulted in stronger fiscal and education performances over the last four years,” Mr Joyce says.

“Strong universities play a crucial part in lifting innovation across our economy, and the Government is working hard to further strengthen our university performance with a number of initiatives that will assist them in making an even greater contribution to our country’s future.”

In 2011:
• New Zealand’s eight universities grew their total incomes by 2.9 per cent from $3.12 billion to $3.22 billion in 2011
• New Zealand’s universities had a combined surplus of $132.2 million (up from $128.6 million in 2010)
• The universities’ net assets remained steady at $5.9 billion.

“These results are particularly pleasing given the impact of the Global Financial Crisis and Canterbury earthquakes,” Mr Joyce says.

Canterbury and Lincoln Universities’ surpluses were temporally increased by the inclusion of insurance monies which are yet to be expended. Discounting net insurance proceeds would mean the University of Canterbury would have recorded a surplus of $9.5 million and Lincoln University a deficit of $2.1 million.

Across all universities, the surplus before unusual items such as insurance proceeds was $108 million in 2011.

The report is available at: www.tec.govt.nz/Tertiary-Sector/Performance-information/TEI-financial-performance/2011-financial-performance-information---Universities/

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Decision Day: Peters Chooses Labour

Winston Peters says he will form a Government in coalition with Labour and the Greens giving confidence and supply.

Peters said he had been offered the position of Deputy Prime Minister and a number of other ministerial posts would go to his colleagues

He said economic and monetary policy changes were needed to face a coming economic downturn.>>>More

Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election