The Perrottet government secretly gutted its flagship innovation program within months of announcing it last year, while also slashing the budget of the department that was charged with developing the program.
Some $263 million was cut from the New South Wales government Future Economy Fund (FEF) last November, less than six months after the $703 million fund was announced to support research, commercialisation and industry growth.
A further $169 million was cut from the fund in the Coalition’s pre-election budget commitment earlier this year.
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