Government on track to make Australia dumber and poorer

Deputy Greens Leader and Greens spokesperson on science, research and innovation Adam Bandt said the PricewaterhouseCoopers ‘The World in 2050’ report released today shows that the government’s policies on science, research and innovation have them on track to make Australia dumber and poorer. The report projects Australia will slip out of the G20 by 2050.

“The report proves that the government has Australia on track to wake up after the mining boom is over to find ourselves a hollowed out, uneducated quarry with nothing left to sell the world,” said Mr Bandt.

“The government has cut investment in science, research and innovation to a 30-year low. They have no vision for our economy beyond dig it up, chop it down, ship it off.”

“Adding to this, last night the government pushed legislation through the Senate likely to rip $1.1 billion out of investment in research and development by limiting tax offsets for companies undertaking R&D.”
“The government is happy to give subsidies to companies in the mining and resources sector to buy cheap petrol, but it is not happy to give companies subsidies to invest in new discoveries that would lead to the creation of new jobs, industries and wealth.”

“This government’s blatant disrespect of science and research is already seeing our best and brightest head overseas, and today we’re seeing more proof it threatens our future global economic standing.”

Media contact: Adam Pulford, 0429 109 054

Download the PwC 'The World in 2050' report here.