Science & Technology Australia welcomes new investments in research commercialisation in the 2022 Budget, while urging deeper investment in discovery science to secure our research pipeline for coming decades and Australia’s long-term safety and prosperity.
The extension of the new Patent Box tax break for Australian companies to manufacture clean energy technologies onshore – powerfully advocated by STA – is great news.
A $2 million investment to extend Science & Technology Australia’s Superstars of STEM program for another four years will help to deepen diverse women role models in STEM.
Science & Technology Australia President Professor Mark Hutchinson said new investments in science and technology would help turn more great Australian research into jobs.
“Stronger science and technology commercialisation is crucial for our country – and these investments, long championed by the science and technology sector, will be pivotal to prosperity,” he said.
“The next task is to deepen our nation’s investments in essential discovery and blue sky science – to deliver major research breakthroughs that can catapult Australia’s capabilities.”
“The extension of the Patent Box tax breaks to low-emissions technologies and agtech in this Budget will help entice onshore manufacturing of climate transition technologies – and is a smart move that Science & Technology Australia has advocated for consistently.”
“The scale of the climate change challenge for humanity is sobering – the grave safety risks driven by climate change will mean more floods, bushfires, cyclones, storms and droughts on a scale never witnessed before.”
“Science will be our lifeline as we face all these threats – and further deep investments in Australia’s transition strategy are imperative over the next year.”
The nation’s peak body representing more than 90,000 scientists and technologists thanked the Government for its investment in the Superstars of STEM program for four more years.
“Superstars of STEM is a game changing program to transform the visibility of diverse women role models and inspire girls to pursue STEM study and careers.”
STA is pleased to see the further investment in this Budget in Indigenous rangers programs – backing in the deep scientific and engineering knowledge of Australia’s First Scientists.
Media contact: Martyn Pearce, STA: 0432 606 828
Key budget measures for science and technology in the 2022 Budget include:
- $505.2 million over five years from 2021-22 (and crucially around $182.3 million ongoing) to establish Australia’s Economic Accelerator to support projects to take university research to proof-of-concept and proof-of-scale.
- $295.2 million over five years from 2021-22 ($142.8 million a year ongoing) to create new research training pathways for students and researchers in Industry PhDs and Industry Fellowships
- $150 million in equity funding over five years from 2021-22 to expand CSIRO Innovation Fund (Main Sequence Ventures)
- $37.4 million over four years from 2022-23 to establish CSIRO Research Translation Start program to build entrepreneurial skills in the research workforce.
- $5.3 million over two years to support science and technology advice to Government via the National Science & Technology Council
- $4.7 million over 4 years from 2022-23 to support the Women in STEM Ambassador and Future You campaigns
- $2 million over four years from 2021-22 to extend Science & Technology Australia’s Superstars of STEM program to build the profile of women in STEM
- Expanding the Patent Box tax concessional rate of 17% tax rate to low emissions technologies.
- $839.2 million for East Antarctic exploration.
