A root and branch review of Australia’s research and development system will be commissioned by the Albanese government as part of its generational reforms to the higher education sector and a push to have businesses innovate more.
The review, announced Tuesday as a cross portfolio measure, will be a “strategic examination” of the entire R&D system to “strengthen its alignment with Australia’s priorities” and generate better outcomes.
Investment in R&D in Australia has been plummeting for more than a decade, with its share of GDP now well below the OECD average and nowhere near global leaders like Israel and South Korea.
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