Committee for Economic Development of Australia 7 July 2009 National Innovation Forum Senator Kim Carr Minister for Innovation, Industry, Science and Research

Research and innovation budget Source: DIISR 25% increase } $ millions

The long view: China China’s share of global GDP 1990 international Geary-Khamis dollars Source: Maddison (2003)

The long view: UK, US, Germany UK-US-German share of global GDP 1990 international Geary-Khamis dollars Source: Maddison (2003)

Business R&D as a share of GDP Australia and China Source: ABS, OECD, MOST Trend {

Committee for Economic Development of Australia 7 July 2009 National Innovation Forum Senator Kim Carr Minister for Innovation, Industry, Science and Research

Note: Czech Republic quarterly growth is an estimate based on preliminary through the year data. Economic growth March quarter GDP growth

Unemployment rates May 2009 * April 2009 ** March 2009 *** December 2008

Stimulus effect on GDP growth

Stimulus effect on unemployment Source: ABS and Treasury

Business R&D follows GDP OECD annual growth divided by SD

A new Super Science Initiative to explore the knowledge frontier  $160.5 million for Super Science - Space and Astronomy  $387.7 million for Super Science - Marine and Climate  $504.0 million for Super Science - Future Industries  $27.2 million for 100 new Super Science Fellowships  $11.3 million in support for Questacon

More support for world-class university research  $512.0 million for the Sustainable Research Excellence in Universities initiative  A new Joint Research Engagement program, replacing the Institutional Grants Scheme  $52.0 million to establish Collaborative Research Networks  $51.7 million to increase the Australian Postgraduate Award  $35.8 million for Excellence in Research for Australia  $51.6 million to improve the indexation of research block grants

More support for Australia’s business innovators  A new R&D Tax Credit  Simpler, more generous, and more predictable  45 per cent refundable credit for small Australian firms  40 per cent non-refundable credit for all other firms – including internationals  Worth up to $1.4 billion a year to business  Plus $65.0 million to extend the R&D Tax Offset in

More support for Australia’s business innovators  A new Commonwealth Commercialisation Institute  $196 million over four years, and $82 million a year thereafter  To support the commercialisation of new ideas from business, universities and public research agencies  To build capacity and attract private sector investment  Consultations on design under way

Committee for Economic Development of Australia 7 July 2009 National Innovation Forum Senator Kim Carr Minister for Innovation, Industry, Science and Research