The learned Andrew Norton (via Twitter)* suggests fully-funding research project grants by abolishing the Australian Research Council
Peter Bentley from the Innovative Research Universities, reports the IRU suggested a version of this back in 2018, “re-distributing Discovery Early Career Research Award funding to universities to administer. External peer review remains the ‘gold standard’, but the negative effects are greatest in this scheme. Universities are also well placed to identify high potential postdoctoral researchers aligned with institutional strengths, while maintaining external competition.”
Sadly, it was interred in the ossuary of good ideas that are submissions to parliamentary inquiries, in this case to the House of Reps 2018 inquiry into research funding – which was full of ideas (CMM November 27 2018) which were never acted on.
* For those with access, apparently Times Higher reported Professor Norton.