Posted 1/21/2024, 2:00:00 PM
R&D Funding Slump Leaves Australia Exposed
- Federal funding for research and development has dropped to 0.49% of GDP, the lowest level in 30 years
- This decline leaves Australia vulnerable economically and reliant on other countries for essential goods
- Australia is falling behind other nations that invest more heavily in R&D
- Increased government investment in R&D provides economic returns and helps address cost of living
- The new government aims to increase R&D funding but more action is still needed