Attachment: CAPA Submission
The Australian higher education sector’s contribution to the economy and the long-term sustainability of the expenditure needs of the nation are widely accepted in industry and government. The two biggest contributions made by the higher education sector are the development of human capital and the creation of new knowledge and innovative ideas. These two contributions are the absolute fundamental drivers of economic growth in economies at the technology frontier, as Australia is, along with other high income, high Human Development Index nations.
Research students contribute to the majority of Australia’s research output in human resource terms at 57%. Expanding support for research students will benefit Australia through higher human capital formation and greater R&D capabilities within the higher education sector.
CAPA has identified three priority areas to inform the formation of the 2016-17 Federal Budget, where funding will ensure continued strong growth of the Higher Education Sector as well as Australian research.