Hon Steven Joyce
Minister of Finance
Hon Paul Goldsmith
Minister for Tertiary Education, Skills and Employment

21 March 2017
Embargoed until 5am NZDT, 21 March
Government welcomes Productivity Commission report on tertiary education

Finance Minister Steven Joyce, and Tertiary Education, Skills and Employment Minister Paul Goldsmith have welcomed the release of the Productivity Commission’s report New models of tertiary education.

“We would like to acknowledge the Commission’s time and effort in considering this issue, and the wide engagement of the tertiary sector in the inquiry,” Mr Joyce says.

“We share the Commission’s commitment to further improving the way that tertiary education delivers relevant skills for New Zealanders, and will review the recommendations and opportunities identified in the report.”

“The Government will carefully consider the Commission’s recommendations over the coming months. We have work underway on some of the matters raised such as improving the accessibility of information for prospective students,” Mr Goldsmith says.

The Commission’s report is wide-ranging, and makes 49 recommendations. These focus on:
• Improving information and its use across the tertiary education system,
• Improving regulatory settings, particularly around quality assurance,
• Reforming how Government purchases tertiary education,
• Ensuring the “system architecture” supports clear roles, accountabilities, and expectations to drive better, and more innovative, tertiary education performance.

“The Government will keep an open mind on all of the recommendations, with the exception of the Commission’s view that interest should be reintroduced on new student loan borrowing.

“The Government is committed to retaining interest-free student loans for borrowers residing in New Zealand,” says Mr Goldsmith.

“We do not want to see young people starting their working lives with unmanageable debt. We know that for those who stay in New Zealand after graduating, half will have repaid their loan in under six and a half years.”

“Tertiary education provides students with the skills and qualifications to get good jobs and good incomes, contribute to the country’s economy, and be part of an innovative and successful New Zealand,” Mr Joyce says.

The Government will respond formally to the Productivity Commission’s recommendations in due course. The report will be tabled in Parliament at 9amtoday, and can be found on the Commission’s website www.productivity.govt.nz.

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