The term Scholarships for a Competitive Future is the name given to an Australian Labor Party policy collectively worth $202 million, that set out the federal government’s intention to:
- Double the number of undergraduate students receiving a Commonwealth Learning Scholarship, including accommodation bursaries, from 44,000 to 88,000
- Double the number of postgraduate students receiving an Australian Postgraduate Award for their PhD or Masters by Research, from 4,800 to 9,600
Both by the year 2012.
In the Australian budget that was announced on May 13th 2008, the Australian Labor Party delivered.
This significant increase in funding availability, to essentially increase postgraduate degree participants, is an attempt to find new sources of globally competitive advantage from within Australia. The government rightly sees investment in Australian people as being essential for creating an innovative and productive workforce that can adapt in a rapidly changing world, without relying too heavily on research from abroad.