Australia Australia’s research and development ‘far off pace’ with the world

02:55  20 january  2020
02:55  20 january  2020 Source:   skynews.com.au

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The international aid and development system was undeniably broken. The amount of money being channelled through the system to fund development should have been sufficient to deliver results, but things When it comes to social business, Australia is so far behind the eight ball it' s ridiculous.

Australia , officially the Commonwealth of Australia , is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands.

Australia’s research and development spending is “far off the pace” of the rest of the world, KPMG Chief Economist Brendan Rynne says.

“If we’re wanting to be a knowledge nation, leading innovation, then that’s certainly one area of policy reform and improvement that not only the federal government but state governments should be looking to improve,” he said.

Mr Rynne said the issue with research and development was the “highly volatile” nature that came with it.

“Businesses need to be usually in a large degree of profit for them to want to spend on research and development," he said.

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Health Minister Greg Hunt says there are people being tested for the deadly coronavirus in each Australian state and territory. Mr Hunt said five people have tested positive for the virus in Australia so far, with all five being treated in isolation and all are stable and well cared for. The health minister told Sky News the disease was declared to be of “pandemic potential” but Australian authorities were “moving at the fastest possible pace to make sure everything that can be done is being done”.

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