Australian government R&D contribution hits all-time low

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¨C23 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.¡±

john.ross@ws-2000.com