Parliament rejects Abbott R&D cuts

Greens Deputy Leader and science and research spokesperson, Adam Bandt MP, has today welcomed the Senate’s rejection of $620 million in cuts to research and development outlined in last year’s Budget.

The 1.5% cut to R&D tax offset contained in Tax and Superannuation Laws Amendment (2014 Measures No. 5) Bill 2014 was removed from the bill by the Senate late last night.

“This is a big win for science and research and a big win for business”, said Mr Bandt.

“The Abbott government has followed the previous Labor government in cutting R&D, bringing investment in science, research and innovation to record lows. The Parliament’s rejection of these cuts is a step towards stemming the bleeding.”

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

“The Liberal government should heed this decision of the Parliament and use the upcoming Budget to reverse the cuts to research and innovation.”

The House of Representatives accepted the Senate changes today.

Media contact: Adam Pulford, 0429 109 054