Australian Universities Call Government’s $10 Billion Fund Proposal A ‘Wealth Tax’

Published on February 26, 2024

Some of Australia’s highest-ranking universities have criticised a government proposal to create a $10 billion (US$6.6 billion) higher education fund, saying it would impose a “bureaucratic tax” on universities and undermine their international standings. This comes after the federal government released a 400-page Universities Accord report (pdf) that outlined a reform roadmap to make the country’s higher education system “better and fairer.” Among the report’s recommendations was the establishment of the $10 billion Higher Education Future Fund (HEFF) using contributions from the federal government and universities. The fund is expected to be managed by the Future Fund Board of Guardians, a corporate body responsible for managing the investments of the Australian Government investment funds....

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