Dowie Sarah: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeDowie Sarah: Oral Questions — Questions to Ministers[Sitting date: 30 March 2016. Volume:712;Page:10006. Text is incorporated into the Bound Volume.]4.SARAH DOWIE (National—Invercargill) to the Minister for Tertiary Education Skills and Employment: What recent reports has he received on the benefits to students of tertiary education?Hon STEVEN JOYCE (Minister for Tertiary Education Skills and Employment): Today the Ministry of Education released a series of fact sheets that show the earnings and employability for graduates after study across a range of disciplines. This is based on actual tax return data and the release shows those with a Bachelor’s degree earn on average around 40 percent more than the national median earnings after 5 years in the workforce while those with postgraduate qualifications earn even more. It also shows the benefits of study continue to increase over time. The data complements the release by Universities New Zealand last month that showed a typical graduate earning around $1.6 million more over their working life than a non-graduate. Overall the release provides useful information for students considering their future study options.Sarah Dowie: Which qualifications provided the highest earnings after study?Hon STEVEN JOYCE: The highest-earning qualifications include the health-related fields plus engineering and information technology. They also demonstrate the value of students studying science technology engineering and mathematics subjects. In particular after 5 years those with a Bachelor’s degree in medical studies earn on average 201 percent more than the national median earnings. Those with a Bachelor’s degree in banking finance or law earn around 65 percent more and for sales and marketing it was 47 percent above average. Those with qualifications at honours postgraduate certificate and diploma level have even higher premiums. Graduates with a qualification in accountancy had earnings 100 percent above the national median earnings. Graduates in civil engineering had earnings 91 percent higher and graduates in mechanical and industrial engineering 83 percent higher. There were a few subjects where earnings were lower than the median wage those subject choices including the performing arts where graduates earned on average 20 percent less than the median wage and visual arts and crafts which was 5 percent less.Sarah Dowie: Has he seen any reports on approaches that may impact the benefits to students from tertiary study?Hon STEVEN JOYCE: Yes. I have seen a number of approaches promoted by a number of international commentators of more of a left persuasion in the last week or two that would see all graduates no matter how much they get paid being paid an additional $11000 or $22000 or thereabouts by the Government—where they earn even 100 percent more than the median income for example. They would then be taxed though by as much as 50 to 80 percent of their actual income. These two changes could have the effect only of discouraging people from training in occupations that our country needs. Jobs like engineering science and software development which are very important for New Zealand’s future would be discouraged on such an approach.Chris Hipkins: If the National Government has finally woken up to the value of post-school education and no longer thinks it is worthless as the Minister tried to claim earlier in the year what is he going to do to reverse the forecast 10000 student loss that is going to happen over the next 3 years?Hon STEVEN JOYCE: Firstly the member is incorrect and is guilty of reading his Twitter backwards which is quite hard to do because it is quite short—Dr David Clark: Ha ha!Hon Member: Slowest MP in 50 years.Hon STEVEN JOYCE: The worst Opposition MP in 50 years—took him a while to catch up with that one. Thank you for arriving Dr Clark. The important thing actually is that this Government is promoting tertiary education. It is promoting science technology engineering and mathematics subjects. It has initiatives like Curious Minds—Chris Hipkins: 10000 fewer students.Hon STEVEN JOYCE: —and Futureintech to encourage it. For Mr Hipkins’ benefit if there is a projected decline in students and there is it is because of a demographic bubble of 18 years ago that has moved past. If Mr Hipkins would like to go back and encourage his mum’s friends—Mr SPEAKER: Order! [Interruption] Order! I think the question has had the answer that it deserves.