I am delighted to Chair the Education Investment Fund (EIF) Advisory Board and to be involved with the EIF.  The EIF is about building a modern, productive Australian economy to meet the challenges of the future through capital expenditure and renewal in higher education and vocational education and training (VET) institutions, as well as in research facilities. 

The EIF is cross sectoral and supports the infrastructure ambitions of higher education providers (including both universities and private higher education providers) and VET organisations (both TAFEs and private registered training organisations); as well as research institutions (including publicly funded research agencies such as CSIRO, ANSTO, AIMS and AIATSIS and private research organisations).

As a key component of the Nation-building agenda, the EIF has a significant role to play in helping the Australian Government insulate the economy from the global financial crisis.  Accordingly, EIF Round 2 is being fast-tracked to help stimulate the economy through infrastructure investment.  This is designed to help secure economic activity and boost employment in the short term and expand growth potential in the medium to long term. 

I appreciate that the timeframe for this round is short.  A critical difference between this round and the previous round is the use of a single application stage process.  This process will facilitate fast-tracking and enable the Government to consider the Board’s recommendations for funding within the overall budget context, with a view to supporting the economy in tough times in addition to meeting the EIF objectives. 

The Board is aware that fast-tracking Round 2 does not provide time for consultation with the sectors before the round; however, we are eager to engage in a dialogue with stakeholders and will undertake consultations in the latter half of 2009.  I am looking forward to building on the relationships developed with the higher education sector in 2008 and I am enthusiastic about forming new relationships with organisations across the VET and research sectors.

This round presents many exciting possibilities for innovative proposals, including collaborative and cross sectoral proposals across higher education, VET and research.  I am looking forward to working with the sectors to ensure the EIF supports significant and strategic projects that can build capacity in the individual sectors and forge links between sectors, while also helping to create jobs, skills and stimulate the economy.

Philip Marcus Clark AM
Chair
Education Investment Fund Advisory Board