Inaction is innovation on R&D review

The Department of Industry celebrates the second anniversary of the National Innovation and Science Agenda with a “selection of success stories … making a difference across the economy, from boosting investment in Australian businesses to helping young people get the skills they need.” Good-o, but guess what was missing? A mention of the Ferris, Finkel, Fraser review of the research and development tax concession is what. The Brotherhood of the Three Fs delivered their report to the industry minister, before the one before last. Supporters say the existing concession helps innovative start-ups invest, critics claim that it costs hundreds of millions that could be better spent in research labs. Realists just wish the government would decide which lobby it is least worried about offending and announce a decision. Unless not responding is it.


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