Australia’s Federal Budget will be handed down next Tuesday (8 May), and STA will be on the ground to analyse the impact on the science, technology, engineering and mathematics (STEM) sector.
On Budget night we will share with you the government’s plans for the R&D Tax Incentive, any new investment in research infrastructure, any changes that could influence falling science and maths education participation and performance, and the impact of the 2018/19 Budget on Australia’s basic and applied STEM research.
As part of our formal submission to Treasury, STA called for a commitment to increasing public investment in scientific research to 3% of GDP by 2030.
We also highlighted the value of an additional 4% per year over the next 4 years for government research funding bodies and scientific research agencies – to maintain investment in line with inflation and regain investment lost due to budget repair measures.
STA also called for the Budget to strengthen the future of the STEM workforce through better support for higher education and reskilling and a commitment to fund STEM engagement activities to address public confidence in science.
STA will be in the Budget lock-up on 8 May, and will publish a summary of any investments and cuts that will have an effect on Australian science and technology ASAP after the Budget embargo lifts.