The Greens have restated their opposition to the proposed 1.5 per cent in the R&D Tax Incentive.
The Abbott Government is making its second attempt at securing political support for the proposed cut, reintroducing legislation to the House of Representatives last week.
Under the proposed change, the R&D Tax Incentive will be reduced to 43.5 per cent for eligible entities with annual turnover under $20 million and 38.5 per cent for all other eligible entities.
Labor says it will continue to oppose the cut, and Greens science and research spokesperson Adam Bandt has called on the government to withdraw the legislation.
“This is a blow to smart business from a government of slow learners,” Mr Bandt said. “Parliament has already rejected this cut of hundreds of millions of dollars to research and development.”
“The Abbott government is cutting R&D spending to the lowest since records began.
“Business needs more support for R&D, not less.
“Science and research are critical to our national wellbeing and prosperity. Australia’s future clean economy will depend on investment into research and innovation today.”