LESS than three months into the job, the Rudd Government has moved to review its research and development support programs, opening the door to an increase in the R&D tax concession rate.
Innovation, Industry, Science and Research Minister Kim Carr yesterday announced a broad review of the Australian ‘national innovation system’, to be headed by consultant and CSIRO board member Terry Cutler.
Senator Carr said the review would look at ways to streamline government assistance, possibly reducing the number of different federal R&D support initiatives and eliminating duplication with State government programs.
Senator Carr is a long-time advocate of the Commonwealth’s 125 per cent R&D tax concession as a means of driving innovation and improved productivity in Australia, and the review presents the first opportunity to introduce such a change.
“This review represents a watershed opportunity for the development of ideas that will ensure Australia reaches its full potential as a dynamic, internationally competitive and prosperous nation,” Senator Carr said.
“In particular, we need to find ways to increase innovation performance across the economy, to ensure that business has better access to new ideas and new technologies and to bridge the divide between industry and research,” he said.
Senator Carr said that central to the review would be to examine the bewildering array of government innovation and industry assistance programs.
“At last count there were 169 programs in Australia, across all levels of government, aimed at supporting innovation,” Senator Carr said.
“The review will allow the Rudd Government to work with the States and Territories to streamline these programs, reducing fragmentation and improving effectiveness.
The committee conducting the reviews includes BHP Billiton technology vice-president Dr Megan Clark; Macquarie Bank and Telstra director Catherine Livingston; and Commonwealth Chief Scientist Dr Jim Peacock.
Senator Carr also announced a review of the Cooperative Research Centres (CRC) program as part of a broader review of the national innovation system. The review will identify areas to further promote and encourage investment and collaboration between research and industry.
For more Future Parc news click here .
For more Export Alley news, click here.