ATSE CEO Kylie Walker says the academy has long called for ambitious action to take advantage of the opportunities ahead of Australia in “energy, manufacturing, advanced technologies and more,” and notes that while Australia only spends 1.68% of its GDP on R&D, research and development spending by Australia’s competitors is growing.

Walker’s comments followed what she said was the Prime Minister Anthony Albanese’s “call for ideas to allow Australia to best capitalise on its comparative advantages and invest in new industries”.

“Australia’s science, research and innovation sector will need to lead the way in this transformation – developing new industries, skills, products and opportunities for the nation. A step change is needed to enable this. As a first step, we call on the government to boost investment in research and development (R&D) to 3% of GDP,” Walker said.

“The Prime Minister has said the world won’t wait for us. He’s right. We need an immediate and sustained increase in R&D funding to make sure Australia doesn’t get left behind.

“Australian research and innovation will be the driving force behind our future prosperity. Australia cannot afford to neglect R&D any longer.”

Walker said ATSE “looks forward to working with the Australian Government as this plan is developed and implemented. Australia’s leading scientist, technologists and engineers stand ready support Australia’s innovation future.”

Walker noted that ATSE has recently developed a number of “high-impact proposals that directly support the aims of the Future Made in Australia plan”.