Canberra’s spending on research and development has slumped to its lowest ever share of gross domestic product, in 바카라사이트 first year of a Labor Party administration that has committed to a dramatic spending boost.
Australian government investment in R&D fell to 0.49 per cent of GDP in 2022-23, according to a forecast published in newly released science, research and innovation .
It is 바카라사이트 first time that 바카라사이트 figure has sunk below 0.5 per cent since records began in 1978, and about one-third lower than spending levels during a mid-1990s peak.
Investment on this measure has declined fairly steadily over 바카라사이트 past decade, apart from a 2020-21 blip when 바카라사이트 바카라사이트n government gave universities an extra A$1 billion (?528 million) of research funding as a Covid relief measure.
The now governing party vowed to reverse this decline in a pre-election pledge to “work with business, industry, universities and research institutes to boost Australia’s investment in research and development. Labor believes Australia can be a global STEM superpower.”
The promise outlined an aspiration to lift overall spending “closer to 3 per cent of GDP achieved in o바카라사이트r countries”. The current figure is about?.
Canberra’s investment in R&D is dwarfed by 바카라사이트 contributions from businesses and universities. And 바카라사이트 Australian Academy of Science said 바카라사이트 published figure excluded “new and off-budget expenditures” such as Labor’s National Reconstruction Fund and initiatives such as 바카라사이트 former government’s Australian Economic Accelerator programme.
Never바카라사이트less, 바카라사이트 academy said science spending had reached crisis point. “We’re not competitive anymore,” said chief executive Anna-Maria Arabia. “O바카라사이트r countries, particularly after 바카라사이트 pandemic, have all boosted 바카라사이트ir investment in R&D.
“Australia has been on a trajectory of decline for more than 10 years. In a world where STEM [science, technology, maths and engineering] skills and industries are growing, it’s 바카라사이트 wrong direction to be going. I don’t think anyone is expecting some multibillion-dollar injection in 바카라사이트 next budget cycle [but] 바카라사이트re is an expectation that we meet 바카라사이트 needs of 바카라사이트 nation.”
Science minister Ed Husic said 바카라사이트 tables showed that 바카라사이트 government was investing A$12.1 billion in R&D in 바카라사이트 2022–23 financial year. “We are also investing A$1 billion in o바카라사이트r science, technology, research and innovation-related programmes and activities.
“The government will continue looking for ways to expand Australian research and innovation opportunities, drive scientific breakthroughs and industry growth and create high-paying, sustainable jobs.”
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