WelTec Welcomes Government Assistance

WelTec Welcomes Government Assistance

Wellington Institute of Technology (WelTec) is to receive Crown loan support of $9 million Education Minister Trevor Mallard announced today.

WelTec CEO Dr Linda Sissons says that a year ago WelTec indicated to Government underlying problems with the funding system, and last month sought a short-term financial boost.

“We are in a challenging financial situation because of our position as New Zealand’s largest provider of trade training,” says Dr Sissons.

“Eighteen percent of our EFTS (equivalent full-time students) is funded through Industry Training Organisations, which gives only 10% of our revenue.

“Technology and staff for these kinds of programmes are specialised and expensive. WelTec must make ongoing investment in technology for its programmes to continue to be relevant, up to date, and able to meet industry needs,” says Dr Sissons.

Dr Sissons says that WelTec does not have the cash reserves of other institutions because it has focussed on delivering the vocationally focussed training that industry needs. “We have not been tempted down the track of community or informal programmes that don’t lead to qualifications, or programmes outside the scope of Government priorities.

“Government has recognised the situation and has also acknowledged that WelTec has remained focussed on the Government’s direction for the polytechnic sector. This allocation of resources recognises WelTec’s high value to the economy.

“Internally we are seeking every opportunity for efficiencies to reduce costs while retaining our high level of delivery. No programmes or qualifications will be withdrawn while there is a demand for them,” says Dr Sissons.

ENDS

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