The Business Council of Australia (BCA) has issued a strong call for private sector research and development (R&D) investment to reach 3 percent of GDP, up from the current 1.7 percent. Their goal is to boost national productivity, create jobs, and strengthen Australia’s position as an innovation-driven economy. Key Points
Lowering Investment Barriers
The BCA recommends removing or significantly raising the existing R&D tax threshold. They propose a minimum of 250 million dollars, indexed over time, to encourage larger scale innovation.
A Clear National Vision
Reaching 3 percent of GDP for R&D would align Australia with global leaders such as the United States at 3.5 percent and Israel, which invests even more.
Partnership and Commercialisation
The initiative supports s...
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