Landry: CQUniversity Job Loss a Loss for the Region

Federal Member for Capricornia Michelle Landry has expressed her concern over the announcement of further potential job losses at multiple CQUniversity campuses.

Ms Landry said she is heartbroken over the jobs loss news.

“Nobody welcomes this, especially during an economy-crushing pandemic such as the one we are experiencing now.

“I understand CQUniversity have been seeking financial assistance through the state and federal governments.

“I want to make it absolutely clear the door is not shut on CQUniversity. We will continue to work with them constructively to determine ways to assist them during the coronavirus pandemic,” Ms Landry said.

“I understand universities are eligible for JobKeeper in the same way as any other business in Australia and universities can access JobKeeper if they can demonstrate a 30 per cent reduction in revenue, or a 50 per cent reduction if turnover is over $1 billion.

“CQUniversity’s 30 per cent decrease in international student numbers equates to a 10 per cent decline in their total revenue. They require a 30 per cent decline in their total revenue to be eligible for JobKeeper.

“While CQUniversity haven’t experienced such a downturn to qualify, I have been making representations on their behalf to the Minister for Education and the Deputy Prime Minister to see what we can do to assist them.

“The Government’s higher education package guaranteed universities would receive more than $18 billion this year, even if they have a fall in domestic student numbers. It’s worth remembering that Federal Government funding represents about half of a university’s revenue.

“According to the most recent financial data, in 2018 universities had total revenue of over $34 billion, of which nearly $18 billion came from the Commonwealth. Out of that revenue, after cash expenses, universities had $4.6 billion in reserves.

“CQUniversity’s total revenue in 2018 was $448 million and about 48 per cent of it was attributed by the Federal Government.

Ms Landry added the repeated call from the Queensland Government to assist CQUniversity is political grandstanding at its best.

“The comments made by the Member for Rockhampton and the Member for Keppel to date are misplaced and misleading, given their own government hasn’t provided any assistance to CQUniversity,” Ms Landry said.

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