The country’s science and technology sector will strongly incentivize businesses to invest in research and development that boosts the economy, and require political parties and candidates to make federal election pledges to double Australia’s investment in research breakthroughs from universities. will be asked for.
At Science & Technology Australia’s annual Leadership Dialogue, 138 member organizations representing 115,000 scientists and engineers will discuss the following: called for bold new investment promises in the election.
Key to that goal is a bold increase in investment in wealth-generating research and development, with STA member countries expected to increase investment by 3% of gross domestic product (GDP) by 2035, with an interim target of 2.4%. Strongly supports the party’s proposal to set research and development targets. % by 2030.
A recent impact assessment report of ARC-funded research found that every dollar invested in Australian research generated an economic return of $3.32 to the country.
Taking note of the US anti-inflation law, Australian STEM sector leaders also called for reindustrializing Australia’s economy through a coordinated strategy across the country’s R&D investment spending, research funding agencies and policy instruments.
They also called for support for STA’s plans to train Australia’s first generation of “bench-to-board” scientists to deliver the next wave of products and services that will boost the economy.
“Australia and the science and technology leaders in the vast range of fields they represent are committed to recognizing the significant contribution that research and development can make to the country’s future jobs and incomes, and how it can help Australia become a leading We are focused on how we can create a strong new economy led by innovative manufacturing,” said Mischa Schubert, CEO of Science & Technology Australia.
“The call to political leaders ahead of the next election will strongly enhance the country’s ability to strengthen the economy through research and development now,” she said.
“It also lays out a clear path to creating the economy we all want – with an abundance of discovery and innovation, a strong manufacturing base to commercialize those ideas, and breakthroughs in science and technology.” We seek prosperity and the creation of new jobs in an era of fierce global competition.”
“Across the world, major economies are taking strong steps to rebuild their manufacturing bases. In the United States, the Inflation Control Act has committed $520 billion to finance and build the clean technology industry.”
“With smart investment choices, Australia can now get into the driver’s seat of a new industrial era and secure our country’s economic future.”
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