Australia Studies Plan for $6.6 Billion Fund to Reform Education
- Reforms to target major increase in tertiary qualifications
- Panel reviewing proposed changes included Macquarie Group CEO
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Australia will study proposals aimed at increasing the number of adults with university or vocational qualifications, including creating a A$10 billion ($6.6 billion) fund for education infrastructure.
A government-convened panel, including Macquarie Group Ltd. Chief Executive Officer Shemara Wikramanayake, recommended that by 2050 the percentage of the nation’s working age population with tertiary education — such as bachelor degrees or job-related diplomas — should rise to at least 80% from the current level of 60%.