As Australia’s peak body for scientists, technologists, engineers and mathematicians, we warmly welcome the Prime Minister’s announcement that the Albanese Government intends to create a Future Made in Australia Act. This will spur investment in clean energy technologies and secure economic opportunity and growth for Australia.
The Prime Minister’s announcement acknowledges the global competition for the economic benefits offered by clean energy tech development – and the urgent need for Australia to position itself as a solid leader in this race.
“This announcement from the Government recognises the urgency – and strategic imperative – to secure economic benefit from the opportunities arising from the energy transformation. This is critical for Australia to transform our expertise into products, build our sovereign capability, and secure our future prosperity,” said STA’s President Professor Sharath Sriram.
“To build the economic complexity our nation needs to remain prosperous, while transitioning to a net zero future, we will have to make significant, strategic investments in R&D and innovation. And we will have to make STEM careers more attractive to secure the future workforce and leverage their talents.”
To be the innovative nation we need to be, Australia must invest more in R&D – spending has been falling for the past decade and we are now well below international competitors. STA renews its call for a pathway to lift national R&D investment to 3% of GDP. All sectors of the economy must do their part – and Government can lead by investing in research and creating the policy framework to pull all the threads together effectively.
We look forward to working with Government and the Minister for Science and Industry, Ed Husic, as they develop – and implement – a plan for Australia’s future – made here for Australia and the world.
