On 19 May 2020, the Victorian Government announced a support package for Victorian Universities, with two main measures forming the package.
The first measure of the package is the creation of Victorian Higher Education State Investment Fund. This is a $350 million fund which aims to support universities with:
- capital works;
- applied research; and
- research partnerships.
Works are intended to be ‘focused on new technology and infrastructure that enables universities to conduct new research, commercialise intellectual property and create high-value jobs’. The Department of Education has stated that ‘[t]he Department will work with all Victorian universities on the allocation of funding through the Victorian Higher Education State Investment Fund.’
In addition to the new fund, the Victorian Government also announced that all Victorian universities would be offered payroll tax deferrals with a total value of around $110 million. As of 2 June 2020, there does not appear to be any further information released in relation to this deferral.
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