Narrow window for STEM-driven productivity in this Budget
Australia’s tech and engineering academy is calling on the Australian Government to seize five critical opportunities to secure Australia’s future in the upcoming Federal Budget.
Australia’s tech and engineering academy is calling on the Australian Government to seize five critical opportunities to secure Australia’s future in the upcoming Federal Budget.
The Australian Academy of Technological Sciences and Engineering’s (ATSE) pre-budget submission, released today, identifies five priorities that – if acted on – will harness emerging technologies, increase the impact of national investments in research and development, and build the workforce Australia needs to deliver on national ambitions.
“These are key priority areas crucial to Australia’s future prosperity – and we can seize these opportunities, but only if we act now,” said ATSE CEO Professor Kylie Walker AM.
“This is about putting in place long-term programs and policies that will drive real, systemic change.”
The priority recommendations outlined by ATSE – informed by Australia’s leading technologists, applied scientists, and engineers – include:
- Uplifting research expenditure and incentivising private investment in research, including supporting implementation of the Strategic Examination of Research and Development
- Building our sovereign AI capability – something that could add $160-$235 billion to Australia’s economy if done right
- Supercharging the energy transition through targeted interventions on demand, technology and regulation
- Supporting proven, practical measures to build Australia’s future STEM workforce – such as ATSE’s Elevate STEM diversity program.
- Adopting a national Read and Publish Open Access model for Australian research to ensure Australian industry and governments have access to the most up-to-date research possible and lift productivity.
These are key priority areas crucial to Australia’s future prosperity – and we can seize these opportunities, but only if we act now.
“We have a narrow window to act on many of these opportunities,” said Professor Walker.
“Other nations aren’t waiting to seize the AI opportunity – and Australia risks getting left behind.
“Climate change is affecting the way we live, work and grow the food we need to survive – and the transition to renewable energy is happening around us.
“And the future STEM workforce that Australia so desperately needs is in school and making decisions about their future right now – so we need the programs that support them.
“That’s programs like the highly successful Elevate, a terrific STEM diversity and skills initiative seed-funded by the Australian government which is down to its last 10 scholarships in 2027.
“Further investment will allow this nation-leading program to support hundreds of women and non-binary people to thrive in science- tech- and engineering-powered careers and help solve many of these complex challenges.
“Whether it’s AI, climate change, water, agriculture, or supercharging the workforce of the future, decisive action in this Budget would unlock substantial economic and social benefits.”
