Higher education base funding review: final report [Lomax-Smith Review]

This report defines enduring principles to underpin the long-term funding of Australian higher education as well as specific recommendations and options for a reformed funding model. Australia’s future social and economic development depends on having an educated and highly skilled community, delivering creativity, innovation and improved productivity. Australian universities contribute to society by leading public debate, enhancing civic and cultural life and enriching our self-awareness by the expansion of knowledge. In addition, universities contribute to the economy by supporting the development of effective graduates, driving regional economies and improving the national accounts by virtue of their research and development as well as their onshore and offshore education activities. Their regional success and global impact enhances our national standing and assists in globalising the national economy. An effective and highly performing university sector is essential to achieving these goals and base funding to universities from the Australian Government and student contributions provides the largest source of revenue to universities.

Abstract from Australian Policy Online website. Show less