SCIENCE, RESEARCH AND INNOVATION TABLES SHOW EIGHT YEAR LOW IN GOVERNMENT INVESTMENT

While the Prime Minister will be spruiking his so-called science credentials tonight at the PM’s Prizes for Science new data reveals that his Government has cut funding for science, research and innovation by 7.7 per cent taking it to an eight year low.      
 
Data released yesterday shows that investment across government in science, research and innovation will be down by $800 million from $10.4 billion in 2017-18 to $9.6 billion in 2018-19.

This is the lowest investment in science, research and innovation that we have seen since 2010-11.  
 
These new figures come on top of last year’s tables which showed that in real terms science, research and innovation funding has declined by $358 million since 2013.
The Abbott/Turnbull/Morrison Government talks a big game on science and research, but the facts are very different.
 
At a time where our international competitors are increasing investment in science, research and innovation in order to fuel future jobs and growth, the Liberals are mortgaging our future by allowing our investment to fall to such low levels.
 
By contrast when Labor was last in government our science investment was $9.9 billion and had increased by 45 per cent.

Only a Shorten Labor Government can rebuild Australia’s innovation system to meet the needs of a 21st century advanced industrial economy.  

A Shorten Labor Government will work with business, industry, universities and research institutes to boost Australia’s investment in research and development to 3 per cent of GDP by 2030.


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