$800m lost by Unis as Govt buys pink batts

The Australian Government has been flagrantly splashing money on cash handouts and pink batts while Universities are facing an $800 million shortfall in income according to Universities Australia, said Christopher Pyne, Shadow Minister for Education today.

""Universities Australia has revealed already struggling universities are facing a loss of investment income of up to $800 million, making a mockery of the Rudd Government's spending priorities," Mr Pyne said.

"Just a month ago the Minister for Education promised historic reforms to the higher education sector,""he said.

Julia Gillard announced the Rudd Government intends to adopt many of the Bradley Review's recommendations, costed conservatively at around $6 billion. However she never revealed how they were going to pay for it, or what the real costs would be in this budget.

Now Ms Gillard is talking down the likelihood of any new funding for Higher Education. Meanwhile they have spent $52 billion through their stimulus packages, plunging the country into debt funding cash splash handouts and pink batt insulation.

Not only is this Government unique in its propensity to announce projects and reforms without a shred of detail on how they plan to pay, they are unique in building expectations in the higher education sector and completely failing to deliver. It's a disappointment of historic proportions for the higher education sector.

"While Ms Gillard attempts to lower expectations and spin stories of a 'staggered rollout', the truth is that this Minister has been unable to deliver for Universities because she has too much on her plate." Mr Pyne said.

Australia deserves better than a part-time Education Minister.