There is a disconnect between the bright picture Treasurer Jim Chalmers paints about the opportunities for Australia to participate in the next wave of global industrial growth, and the Australian government’s current level of spending on science and research.
The federal Budget on Tuesday was a balancing act, the Treasurer said during a National Press Club address on Wednesday. It needed careful calibration to meet the competing claims of an economy under inflationary pressure and getting squeezed by rising interest rates, while at the same time looking after cost of living pressures on our most vulnerable.
He has done this while keeping an eye on the future, he says, and putting in place mechanisms to put Australia in the best possible place to take advantage of new industries as the world transitions toward net-zero.
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