Universities New Zealand – Te Pōkai Tara responds to Budget 2024

Universities New Zealand – Te Pōkai Tara welcomes the 2.5% increase to DQ7+ (Delivery + Quality) funding, and the proposed  6% increase to the Annual Maximum Fee Movement, as outlined today in Budget 2024 by Minister of Finance Hon Nicola Willis.

“We welcome the increase to DQ7+ funding, however, the financial situation for universities remains precarious,” says Professor Cheryl de la Rey, Universities New Zealand Chair and Vice-Chancellor of the University of Canterbury.

“We understand that times are challenging across the board as the country feels the effects of a slowed economy,” says de la Rey. “But we also know that universities hold the key to dealing with some of the very challenges this country faces now and in the coming decades – including improving economic prospects, health and wellbeing, and mitigating the effects of climate change.”

Chris Whelan Chief Executive of Universities New Zealand said, “Universities are hurting but today’s Budget announcement does offer a glimmer of hope in a financially constrained environment.”

“With Government controlling the lion’s share of university funding - close to 80% - the decisions they make determine the extent to which universities can continue delivering high-quality teaching and generating impactful research and innovation.”

“Every dollar invested in New Zealand’s universities unlocks value for the country as a whole,” says Whelan. “We are hopeful that the processes around the University Advisory Group and the Science System Advisory Group reviews will further highlight the value universities can unlock for the country.”

“Our hope is that, in future budgets, universities will be given greater priority to unlock the full potential of our sector.”