The Australian Technology Network of Universities (ATN Universities) welcomes the productivity-boosting intent of the Federal Budget handed down by Treasurer Jim Chalmers. But calls for far greater ambition from the government in backing proven research and knowledge creation initiatives.
Reforms to negative gearing and the capital gains tax are an important long-range step towards easing housing affordability. The ATN Universities note this will be particularly important, over time, for its over 202,000 students and early career graduates.
But the ATN Universities – Australia’s most applied and technology-focussed universities – believe the Budget missed important opportunities to harness the critical role universities perform in generating investment, strengthening economic sovereignty, building resilience, and delivering social benefit.
ATN Universities Chair, Professor Alex Zelinsky AO said “The Budget’s focus on productivity is the right approach but it does not sufficiently invest in the nation’s most proven productivity drivers.”
“This is a disappointing budget for research.”
Professor Zelinsky added, “At a time when we need to be backing Australian research and innovation, this Budget has no provision to continue highly effective industry-partnered initiatives like Trailblazer.”
“The Trailblazer program has been making strong inroads in key sectors of sovereign risk like clean energy, and it is producing significant investment and employment multipliers in high-demand, globally competitive areas like resource technology and critical minerals.”
“Now is the time to double-down, not discontinue support for these proven productivity levers at this very moment when they are delivering real benefits.”
While welcoming commitments to CSIRO in the Budget, ATN Universities is concerned at the lack of indexation provisions for established research frameworks like the Australian Research Council.
Professor Zelinsky said, “Universities are not just about knowledge transfer, they are crucial to knowledge creation. Sustained investment based on that principle delivers major economic and social dividends.”
ATN Universities notes the Budget’s measures to lift the release of funds from the Medical Research Future Fund annually to reach $1 billion by 2031, partially funded by the winding up of the innovation program, Australia’s Economic Accelerator, with $800 million in funds uncommitted.
Professor Zelinsky said, “Greater investment in medical research will help deliver vital innovations, yet that should not come at the expense of other drivers of productivity.”
Professor Zelinsky added, “We need to ensure the entire R&D ecosystem, its dependencies, and its opportunities are supported.”
“Harnessing the proven strengths our universities have in areas of sovereign risk brings very substantial economic multipliers by way of industry investment and job creation. The ATN Universities will continue to work with Government to leverage that.”
The Budget’s provisions for the new National Resilience and Science Council are welcome, as is the ongoing commitment to the Cooperative Research Centres program. As sector leaders in industry-partnered research, the ATN Universities are well-placed to drive greater national resilience in areas of sovereign risk.
ATN Universities Executive Director, Dr Andy Marks said, “Measures in the Budget to increase the R&D tax offset cap from $150 million to $200 million are important in mitigating against potential investment lags due to capital gains reforms.”
Dr Marks said, “Support in the Budget for a National Credit Recognition Framework is particularly welcome and is a clear signal the Government is committed to harmonising Australia’s vocational and university education systems.”
“Getting this right is critical to meeting Australia’s skills needs against the backdrop of AI, global volatility and energy transition.”
Dr Marks said, “The ATN universities have by far the nation’s largest mix of vocational and university students. We are proof that tertiary harmonisation works and is highly effective in meeting Australia’s skills needs and lifting access to education.”
“Making it easier for students to navigate the system and get the high quality skills they need, quickly, is a guaranteed productivity booster. This is good for everyone, educators, industry, and very importantly, students.”
Media Enquiries:
Email: info@atn.edu.au
ATN Universities Executive Director, Dr Andy Marks is available for interview or comment.
