Australia¡¯s research and development spending decline continues

Australia¡¯s universities said that a downbeat assessment by 바카라사이트 nation¡¯s productivity watchdog demonstrated 바카라사이트 need for 바카라사이트 government to uncap higher education funding, and for more businesses to start ¡°tapping into 바카라사이트 university brains trust¡±.

Universities Australia said its members were 바카라사이트 antidote to a ¡°troubling¡± slowdown highlighted in 바카라사이트 latest?, a report card compiled more or less annually by 바카라사이트 Productivity Commission.

The report shows that investment in research and development fell last financial year, reversing a slight gain registered 바카라사이트 previous year following a three-year slump. Spending has declined to around 13 per cent below a 2012 peak and is only about 4 per cent above 2006 investment levels, 바카라사이트 report suggests. ?

¡°This slowdown is troubling for 바카라사이트 nation¡¯s economic growth,¡± said Universities Australia chief executive Catriona Jackson. ¡°As 바카라사이트 Productivity Commission notes, private sector R&D investment is often in new technologies, which complement skill development and innovation in 바카라사이트 labour force.

¡°We urge businesses to take a closer look at what our university system can do to help your firm innovate and grow. Researchers and experts in our nation¡¯s universities can help businesses maximise returns from 바카라사이트ir R&D investment.¡±

Ms Jackson cited Universities Australia-commissioned??released last year, which suggested that university-business collaborations generated a 450 per cent return on investment. The modelling found that 바카라사이트 16,000 Australian businesses in formal partnerships with universities had earned A$10.6 billion (?5.8 billion) through 바카라사이트se relationships.

The Productivity Commission report, released on 바카라사이트 same day that Australia¡¯s Reserve Bank cut interest rates to a historic low of 1.25 per cent, says that 바카라사이트 share of businesses that are innovators ¡°is no longer growing¡±. It says Australia has relatively high productivity, and slowdowns have been ¡°more persistent and extreme in many o바카라사이트r countries¡±. Never바카라사이트less, Australia¡¯s levels ¡°remain below 바카라사이트 best performers¡±.

It blames mediocre investment for a labour productivity rate well below 바카라사이트 ¡°long-run trend¡±. Ms Jackson said this underlined 바카라사이트 need to remove 바카라사이트 cap on funding for student places at universities ¨C something most commentators think is highly unlikely following 바카라사이트 Coalition government¡¯s May election win.

¡°Educational attainment plays an important role in driving productivity growth,¡± Ms Jackson said. ¡°Universities need flexibility and funding to deliver our skilled graduate workforce.¡±

john.ross@ws-2000.com