Research tax offset cuts a blow to smart business by government of slow learners

Greens science and research spokesperson Adam Bandt MP today called on the government to withdraw its legislation from Parliament that seeks to cut hundreds of millions of dollars out of research and development.

The 1.5% cut to the R&D tax offset contained in Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015 is the exact same measure as that removed by the Senate from the Tax and Superannuation Laws Amendment (2014 Measures No. 5) Bill 2014.

Quotes attributable to Adam Bandt:

“This is a blow to smart business from a government of slow learners.”

“Parliament has already rejected this cut of hundreds of millions of dollars to research and development.”

“The Abbott government is cutting R&D spending to the lowest since records began.”

“Business needs more support for R&D, not less.”

“Science and research are critical to our national wellbeing and prosperity. Australia’s future clean economy will depend on investment into research and innovation today.”

“This attack on science and research is destined to fail. Tony Abbott must withdraw this legislation from the Parliament.”

Media contact: Adam Pulford, 0429 109 054

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