Gunna? It's already scarey
www.news.com.au/national/politics/turnbull-government-faces-37b-hole-in-ndis-funding-without-education-money-transfer/news-story/6478b819fe5281b5c388147fedbbee9fTurnbull Government faces $3.7b hole in NDIS funding without education money transferMALCOLM Turnbull faces an unexpected $3.7 billion hole in funding for disability services after it emerged the government did not have the power to transfer money from an education fund into the landmark initiative National Disability Insurance Scheme (NDIS).
The Australian reports the Government needs the Senate’s approval to move the money from the Education Investment Fund (EIF), which was used to fund university infrastructure, into the NDIS.
Senior government figures told the publication they would not require legislation to make the transfer, which was signalled in the midyear budget review.
But earlier this week Universities Australia wrote to the nation’s public universities saying the Deparment of Finance had made it clear legislation “would need to be amended for the government to remove the uncommitted balance of EIF and transfer this money to a different purpose”.
The Prime Minister will face an uphill battle to secure the transfer, given the Senate rejected a bid to move the EIF money to the Asset Recycling Fund in the last parliament.
Peter Hoj, chairman of the Group of Eight universities, told the publication while the group agreed the NDIS should be funded adequately, using money from the EIF was not appropriate.
“Damage research and you damage not only the medical advances that come from research, but indeed the economy which sustains many of the services we wish to have available in the long term,” he said.
The Opposition’s research spokesman, Kim Carr, also agreed the move was a “false dichotomy”.
“The government has $50bn in proposed tax cuts sitting there yet it wants to deprive the country of essential research infrastructure that will drive innovation into the future,” Senator Carr told The Australian.
Finance Minister Mathias Cormann said the government’s position on closing the EIF and Building Australia Fund had not changed.
“The uncommitted funds from the EIF and the BAF will be allocated to the NDIS savings fund special account,” Senator Cormann told The Australian.
“These are not the only funds that will be added to the NDIS savings fund special account.
“The government remains committed to putting the NDIS on a sustainable funding foundation for the future.”
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