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Investing in universities could boost economy

Research conducted by Universities Australia has indicated that investing in higher education could boost the economy.

The KPMG study estimates the return on investment in higher education to be 14-15 percent, double the benchmark set for good investment at the long-term bond rate of 6-7 percent.

Universities Australia has called on the Government to invest more into higher education, and that if cash were injected now, the real GDP (Gross Domestic Product) would increase by an average of $1.6 billion annually over the next decade.

According to Universities Australia chief executive Glenn Withers funding higher education reforms is how we can “pay for the pensions, health care, environmental improvements and the defence budget of the future.”

“Australia’s universities call upon the parliament to seize this opportunity without further delay.”

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