$350 million fund to support universities welcomed by Monash

Monash University warmly welcomes the Victorian Government's $350 million Higher Education State Investment Fund, to support universities with capital works, applied research and research partnerships, plus immediate relief through a $110 million payroll tax deferral.

President and Vice-Chancellor Professor Margaret Gardner AC, said the fund supports the essential role that universities play in the Victorian economy, and their contributions to innovation, job and knowledge creation and economic development, for the benefit of the whole community.

"This funding provides immediate relief to meet the shortfall in revenue that many universities are experiencing and by doing so saves jobs. It also acknowledges the vital contribution universities make to Victoria,” she said.

“Monash recognises that the COVID-19 pandemic has placed enormous pressure on the State’s finances. And in this context the State government’s support for the employment and innovation universities can provide is much appreciated,” Professor Gardner said.

“This adds to the support for international students suffering hardship which was previously announced by the State government.  “There are so many sectors that benefit from international students. Retailers, tourism, rental housing, hospitality - these students don’t only study here, they also live here - they truly contribute to the Victorian economy and community,” she said.

Professor Gardner presented yesterday at the Victorian Parliament's Public Accounts and Estimates Committee (PAEC) looking at the responses taken by the Victorian Government to manage the COVID-19 pandemic.

During the presentation, Professor Gardner outlined that as one of Victoria’s largest universities (around 18,000 direct employees and more than 80,000 students) the effect of the COVID-19 pandemic on Monash had been significant, with clear immediate issues on education, research, staff and students.