Productivity improvements driving industry competitiveness

Developing industry and innovation

The Government is developing Australian industry and innovation through initiatives in research and in the oil exploration, pharmaceutical and automotive industries. Strong industries lay the foundation for more job creation and higher living standards for Australians.

A number of initiatives will develop Australian industry and innovation.

$20 million in additional funding in 2003-04 for the Commonwealth Scientific and Industrial Research Organisation (CSIRO). This will help fund research to advance new industries and jobs, healthier and more productive lives for Australians and better use of environmental resources
$61 million over four years so Geoscience Australia can provide information on oil exploration opportunities in Australia
$150 million over five years from 2004-05 to encourage additional investment in research and development in the pharmaceutical industry

The Government has previously announced funding of $4.2 billion over ten years after 2005 to promote production, investment, research and development in the Australian automotive industry. Tariffs will fall from 15 to 10 per cent on 1 January 2005 and to 5 per cent on 1 January 2010.

The Government will evaluate the Backing Australia's Ability initiatives in 2003. Backing Australia's Ability is the Government's five year $3 billion innovation statement, announced in January 2001. The evaluation process will be used to guide the direction of future government investment in Australian science and innovation.

In advance of that evaluation, the Government is providing an additional $379 million in 2006-07 for the National Competitive Grants Programme, the Cooperative Research Centres Programme and R&D Start.