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April 11, 2024
The Australian Academy of Science welcomes the Prime Minister’s announcement of the Government’s intention to legislate for future Made in Australia legislation.
Professor Chennupati Jagadish, President of the Australian Academy of Science, said: “The future we create in Australia depends critically on the breadth and depth of Australian science.”
He added that science supports innovation and industry, but over the past 20 years Australia has seen inconsistency in research and development (R&D) policy and investment.
Today, we still have not identified gaps in scientific capacity, much less developed plans to address them to achieve national goals.
“There is a fundamental link between science and economic development, but we cannot achieve this with a scientific system that is not fit for purpose and relies on settings from decades ago,” Professor Jagadish said. .
Internationally, Australia lags far behind in using science to ensure sovereign capacity and improve economic resilience to shocks.
In contrast, the United States has increased investment in science through the Inflation Control Act and the CHIPS Act.
China is trying to achieve scientific self-sufficiency. Similarly, Japan, EU countries and South Korea are increasing investment in science and diversifying their economies.
“Industrial policy cannot be successful without a productive, innovative and sustainable science system,” Professor Jagadish said.
“We need a strategic roadmap and 10-year commitment to increase government investment in research and development and stimulate spending in other sectors, which is critical to Australia’s productivity and industrial capacity.”
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