Australia 'cannot dumb its way to greatness': Shorten

Mr Shorten said its balance sheet had "some problems" it had to face up to, which would involve redundancies.

"There are people who work for this university who are losing their jobs, and I'm respectful of that," he told reporters. "That is not straightforward."

Rejecting the University of Canberra as a "blank canvas" Mr Shorten said while it wouldn't have to start from scratch, there would be a "rejuvenation".

"The creators and the builders have given us a strong foundation over six decades," he said.

"Recent times have not been easy at the university or indeed throughout higher education."

Calling time on his 17-year political career, Mr Shorten has held the inner-Melbourne seat of Maribyrnong since 2007, but will not recontest the next federal election due by May 17.

Asked about a speechwriter hired for $300,000 a year following him to his new role as the university made cuts, he said it was "completely unexceptional".

"It's within the budget that was allocated, there was no replacing anyone," he said.

Mr Shorten said in his new role he would argue for greater funding for research and development.

"This country cannot dumb its way to greatness," he said.

While in a speech during his investiture, he also laid down some rules, saying the university would not tolerate prejudice or hate.

"You can debate and have any idea you like, but there is no place for anti-Semitism, racism, homophobia, misogyny," he said.

"We have to nourish our democracy and safeguard our pluralist society."