A growing chorus of calls from the research lobby are demanding the Albanese government at least set targets for increased R&D funding and a timetable to meet them.
Groups representing Australia’s researchers, scientists, engineers and technologists are in lockstep ahead of Tuesday’s federal Budget on the need to raise total investment in research and development to at least 3 per cent of GDP.
It’s a level that would return Australia to a level that is competitive with OECD peers. But at almost double the current mark, reaching 3 per cent of GDP would require an additional $32 billion in R&D spending every year.
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