Mr PYNE (Sturt—Leader of the House and Minister for Education) (14:46): I am delighted to get a question from the member for Moore about the government's higher education reforms, because I can tell the House that the government is very proud of the higher education reforms we passed through the House of Representatives and that we want to see passed through the Senate. They will do to dramatic things for universities. Firstly, they will spread the opportunity to get a higher education qualification to 80,000 more young Australians, with all the private benefit that that will bring in higher income, low unemployment, longer life expectancy, better health outcomes and higher incomes. Secondly, these reforms will free universities to be able to compete internationally and to raise the revenue they need to continue to be amongst the best universities and the best university system in the world. These reforms are vital in bringing able to bring about those two incomes. All we are asking students to do for all the benefits that they receive is to pay 50 per cent of the cost of their education. They are currently paying 40 per cent. We are asking them to pay 50 per cent and we are asking the taxpayers to continue to pay half the cost for those university students to gain those extraordinary benefits. Under our very fair system, students can borrow every single dollar of that up-front and pay it back at the lowest interest rates they will ever get for a loan in their lives. They do not have to start paying it back until they earn over $50,000 a year. The Labor Party's response to this has been twofold. Knowing all the problems that universities have had in the last 10 years, their response was to cut university spending by $6.6 billion. They have gone very quiet! Opposition members interjecting— Mr PYNE: They made $6.6 billion of cuts over the time that they were in government, without providing any commensurate ability for universities to raise revenue. Mr Perrett interjecting— The SPEAKER: The member for Moreton is destroying his record. Mr PYNE: Their second respond was to try to scare university students and their parents with this ridiculous, exploded $100,000 degree myth about the University of Western Australia. Do you not know the difference between a post-graduate degree and an undergraduate degree? No wonder you are the shadow Treasurer! Mr Bowen interjecting— Mr PYNE: You will never get your chance on this side of the House as Treasurer, let me tell you. The University of Western Australia has exploded the myth. They have demonstrated that they will be charging $16,000 a year for a university in the top 100 in the world. There are 11,500 universities in the world. They are a top 100 university and they are going to charge $16,000 a year. That is light-years away from the $34,000 a year that Labor is trying to scare students with. We are moving in the right direction and we are making great progress with our reforms. These reforms will save universities and give students the chance for more opportunities.