Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

The government continues to make smart, strategic investments in science, research and innovation which will pay off in the long term. In the 2017-18 budget, we are investing $10.3 billion in research and development, which includes a record $3.6 billion for university research, $794 million for the CSIRO, $3.1 billion in support for business research through the research and development tax incentive, $473 million for defence, science and technology, $758 million through the Australian Research Council and $841 million through the National Health and Medical Research Council.

Under the National Innovation and Science Agenda, the government has also made a number of significant longer-term investments, including $2.3 billion over 10 years to support critical research infrastructure. The government is also investing $119 million over 10 years to become a strategic partner in the European Southern Observatory. This will provide Australian researchers international collaboration opportunities and access to the world's best infrastructure in astronomy. Through our strong support for science, we will boost our nation's capacity to innovate. To those around Australia interested in science innovation, the best advice I can give them is: don't listen to Senator Carr.