Australia's great ideas deserve more than good intentions - 18 March 2026

Manisha Gordon-Menon
Wed, 18 Mar 2026 14:27:00 +0800

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Independent crossbench MPs Dr Monique Ryan and Kate Chaney have welcomed the release of the Federal Government's Ambitious Australia: Strategic Examination of Research and Development (SERD) report, urging the government to act on its recommendations.

The report finds Australia's research, development and innovation system to be fragmented, underfunded, and insufficiently focused on commercialisation.

The report makes 20 recommendations, including establishing a National Innovation Council, consolidating the funding system, reforming the R&D Tax Incentive, better supporting the indirect costs of research, unlocking venture and angel investment, and using government procurement to drive innovation.

Research and development spending has fallen from 2.24 percent of GDP in 2008–09 to 1.69 percent in 2023–24, well below the OECD average of 2.7 percent. While business expenditure on research and development intensity has declined 31 percent since 2009 and now sits at 0.9 percent of GDP, compared to an OECD average of 1.99 percent.

The Commonwealth administers more than 150 research, development and innovation programs across 13 ministerial portfolios. The report states that Australia has "shifted away from boldness and towards caution," resulting in an unnecessarily complicated system of rules, regulations and restrictions.

Comments attributable to Independent Member for Kooyong Dr Monique Ryan MP: “The report sends a clear message: without strong investment in Australia’s science and research sector, we risk weakening our capacity to turn our world-leading researchers' discoveries into long term economic gains.

“We have to address the significant challenges facing the research sector. The Albanese Government has identified health and medical research as one of its national priorities, but all we've seen recently is talk without action. I hope this report will help kickstart the action the sector has been calling for.

“The SERD panel supports increasing spending from the Medical Research Future Fund. It's independent, evidence-based support for something I and the sector have been calling for, for many months.

“Our researchers and scientists not only save lives through their discoveries, they drive economic growth and provide vital aid to our region. If we invest in them now, we invest in the future health of all Australians. In the upcoming Federal Budget, the Government must invest in medical research.”

Comments attributable to Independent Member for Curtin Kate Chaney MP: “This report confirms what the crossbench has long said - the Albanese Government lacks the necessary courage for bold reforms. Research and development investment is yet another opportunity for the Government to take meaningful steps towards solving the significant challenges of our time.

“Underinvestment in research and development has far-reaching implications - from life-changing medical research, to innovation, and the deployment of decarbonisation technologies to safeguard our climate for future generations.

“Despite these impacts, Coalition and Labor governments have consistently neglected and underfunded our research and development system, reflecting a broader neglect of long-term policy and vision. Australia must not miss the chance to develop world-leading scientific, medical and technical innovations because of government timidity.

“Australia produces 3 percent of global knowledge from just 0.3 percent of the global population. My electorate of Curtin has a range of flourishing medical research institutions, but Australians are missing out on world-leading breakthroughs because we fail to support and commercialise knowledge that will build prosperity. I strongly support the report’s recommendations to build and invest in this kind of foundational research.

“We must also increase our investment in Artificial Intelligence, as its impact on research and development is already being felt. AI can supercharge our research and development system to capture opportunities that exist here and now.

"Too many important reviews are commissioned and then quietly shelved. Will this be another report that ends up in the ‘too hard’ basket? Australians need a government with the necessary ambition to match our world-class research and innovation sectors."

ENDS

Media enquiries: Cade Smith | Media and Communications Adviser Kate Chaney MP - Independent Federal Member for Curtin cade.smith@aph.gov.au | 0408 997 003