The Budget Papers show that, while spending on the R&D Tax Incentive is expected to decline next year, by around $50 million, it will return to growth and reach $2.769 billion by 2018-19.
Industry Minister Ian Macfarlane also announced $20.5 million to the Australian Nuclear Science and Technology Organisation to meet part of the cost of operating the Australian Synchotron.
“The Budget also includes a four-year investment in the CSIRO of over $3 billion over the forward estimates,” Mr Macfarlane said. “This investment is evidence of the Australian Government’s commitment to the CSIRO and the critical role that it plays in supporting Australian industry.”
He continued, “The Australian Government is making strategic, targeting and smart investments in Australia’s science and research capacity.
“As Australian manufacturing and industry transition into a new phase, the Government is putting science at the centre of industry to identify and seize new jobs and new opportunities in the rapidly changing global economy.”
However, the Government also announced four-year savings of $26.8 million by reducing funding for the Cooperative Research Centres programme.
The Budget Papers show that it will continue to provide $732.4 million over the forward estimates for the programme pending the outcome of a review announced by Mr Macfarlane in September last year.