Australia's R&D investment falls below OECD average, raising economic growth concerns.

Australia's research and development (R&D) investment has fallen to 1.66% of its GDP, well below the OECD average. Led by Tesla's Robyn Denholm, a government panel warns this decline could harm economic growth and productivity. The Business Council of Australia urges increased R&D spending, suggesting better collaboration between businesses and universities and tax incentives. Industry Minister Ed Husic calls for businesses to boost R&D to create jobs and innovation, moving from a technology consumer to a producer.

5 weeks ago
18 Articles