Investment in Australia’s science, research and innovation system is critical to support industry growth, create more jobs and increase our national prosperity.
The 2022–23 Science, research and innovation budget tables show the government will invest $12.1 billion in research and development (R&D) in the 2022–23 financial year. We are also investing $1 billion in other science, technology, research and innovation-related programs and activities.
The government’s investment in R&D includes $9 billion in direct support for Australia’s national research organisations such as the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Nuclear Science and Technology Organisation (ANSTO). We expect around $3.2 billion to be invested through the Research and Development Tax Incentive to help businesses to undertake research activities that otherwise would have not been undertaken.
Science, research and innovation are fundamental to the government’s priorities, including rebuilding Australia’s manufacturing capability, supporting home-grown innovation, and securing our long-term productivity, energy security and prosperity. This support extends across government, allowing us to make strategic investments that help researchers do cutting-edge R&D to meet emerging challenges.
Strengthening the bond between industry and research organisations is crucial to delivering research outcomes, creating well-paid secure jobs and supporting our economy
The government will continue looking for ways to expand Australian research and innovation opportunities, drive scientific breakthroughs and industry growth and create high paying, sustainable jobs for Australians.