The upcoming Productivity Roundtable should focus on the big picture of driving growth through research and innovation, rather than getting lost in the weeds of tax tinkering and niche ‘nice-to-have’ needs.
Science & Technology Australia, on behalf of the more than 235,000 scientists, engineers and technologists it represents, is calling for roundtable participants to reflect on history showing major jumps in national productivity have been driven by research-driven innovation and technology, and focus on that as the primary way to get Australia out of its productivity doldrums.
“Productivity means working smarter, not just harder – and that can only come through the creation of new ideas and turning those into innovations in Australian industry,” said STA CEO Ryan Winn.
“That means the answer to Australia’s productivity questions lies in supporting, incentivising and building a strong research and innovation sector. Everything else is tinkering around the edges.”
“Incremental changes simply won’t lift productivity in the way the country needs. We need the increased economic complexity that will come from giving the nation’s researchers – whether they are in a university, medical research institute or in commercial business – the tools, regulatory environment and funding to innovate new answers to create new and enhance existing industries.”
From the technological frontier of AI, quantum and robotics, to the existential challenge of tackling climate change, Australian ideas can power Australian innovation and create the present and future economy the country wants and needs – but only if we back our researchers and innovators.
“This isn’t just about creating the futuristic ideas of tomorrow to foster a stronger, more productive Australian economy in years to come, even if they are amazing like the next Cochlear implant and the solar panel. Right now, Australia faces the real and imminent danger of the effects of catastrophic climate change – from increased bushfires and floods, to significant biodiversity loss. These impacts are also already placing a heavy weight on productivity.”
“Backing Australian researchers and innovators through deeper investment would create new ideas, solutions, and innovations to tackle these problems while providing a big boost to productivity.
“Research and development leads to inventions. Focusing on turning these into products and services will create the best opportunities for economic returns, jobs, and increased productivity.”
“It’s a win-win that would help create an Australia built from Australian ideas.”
With the Strategic Examination of R&D (SERD) not due to report until November this year, it’s essential that research and innovation isn’t sidelined from the Productivity Roundtable.
“Waiting for the SERD report is not a reason to kick the can down the road and think that innovation is somehow divorced from productivity – they are inextricably linked. We call on all participants of the Roundtable to recognise that the big answers to the big questions on how to boost productivity will come from backing the nations researchers and innovators, and put that at the heart of their discussions.”
