The Danish Social Democratic government has recently introduced an updated proposed budget, which aims to put a stop to university budget cuts.
Until now, educational institutions in the country were forced to cut their expenses by around 2% on an annual basis. However, this often leads to serious budgetary deficits, and the new government is looking to change this situation.
An end to university budget cuts
In a recent press release by the Ministry of Higher Education and Science, the practice of forcefully cutting educational budgets will be eradicated.
University budget cuts have had a detrimental effect on the quality of education in the country, and the government is looking to put a stop to that. According to Ane Halsboe-Jørgensen, Minister for Higher Education and Science, education is a top priority for Denmark, as it is what makes the future generation excel.
In order to make up for the funding generated by the annual university budget cuts, the government plans to introduce a variety of new taxes.
Some of these proposed taxes include ones for work mobiles, shareholder taxes, and taxes related to inherited funds and property.
The newly proposed budget details that recent reductions in inheritance tax should be reverted, while shareholders should see a lowering in the limit of non-taxable profits from stocks.
Betting on education
What the Social Democratic government is looking to do is give the educational system sufficient funding, in order to boost the quality and better satisfy educators and faculty members.
According to Ms. Halsboe-Jørgensen, education is a fundamental part of the future of Denmark. For her, university budget cuts pose a threat to the successful functioning of educational institutions in the country.
Denmark is not the only country looking to allocate more funding for education. Recently, Indonesia also introduced an upgraded government budget, which places a focus on developing the educational system.
