University sector to report an unprecedented $8m deficit

The university sector is struggling. (Image: Getty)

Thu, 01 Feb 2024

New Zealand’s university sector will report a deficit for the first time, a briefing to new tertiary minister Penny Simmonds reveals. The briefing – prepared by Tertiary Education Commission (TEC) chief executive Tim Fowler – identified Massey University and Victoria University of Wellington (VUW) as the highest risk financially and said both are being monitored closely. Based on financial forecasts provided to TEC, in September 2023, the university subsector – compromising the eight major universities (not pol...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

ASB, IAG legal payouts prompt differing verdicts

ASB flagged the class action as a contingent liability.

Gregor Thompson 1:30pm

Economy

Adrian Orr’s exit deal imposed gag on mutual RBNZ criticism

The restraint of trade payment was to protect confidential information.

Rebecca Howard 9:40am

Adrian Orr’s exit deal imposed gag on mutual RBNZ criticism

The Quiz Free

QuiznessDesk, Wednesday, Oct 08

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored