Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

The government understands that research and development are critical to creating opportunities for Australian firms, and that is why we have made room in a tight budget to boost innovation spending to record levels. We will invest some $9.4 billion in the coming financial year, a 43 per cent increase on the best efforts of the previous government. This would allow firms in every industry to find cleaner, cheaper and smarter ways of doing business. The CSIRO works directly with industry to develop these opportunities, and that is why we have committed a record $3 billion over four years for this vital national asset. More than 150 Australian companies have directly worked with the CSIRO to benefit from its technological breakthroughs. Many more have found a new competitive edge working with the CSIRO, using CSIRO to connect to partners across the globe. (Time expired)