An additional $128 million will be invested to help tertiary institutions deliver their strategic plans as agreed by their Councils.

Budget 2023 provided $496 million over four years to increase tertiary and training subsidies by 5%, and $24 million for te reo and mātauranga Māori delivery. This funding, along with the $128 million, will increase subsidies for degree-level and above tertiary delivery by 9% for 2024 and 2025 over and above 2023 levels.

It was also signaled that there will be a review the funding system for the tertiary sector. There will be more information about this work once decisions on the scope and approach for the review are made.