Australia cuts research funding to give small businesses a boost

May 27, 2015

Australia has raised controversy by significantly cutting its research budget while offering tax credits and write-offs to small businesses that purchase equipment such as espresso machines and lawnmowers. The move is intended to help the economy by giving small businesses a boost, but many have criticized the move. Chief Scientist Ian Chubb noted that Australia is the only country in the Organization for Economic Cooperation and Development (OECD) that does not have a plan in place to foster scientific research and translate it into new technologies. Some speculate that Australia's policies are already costing it talented scientists, who are moving abroad to pursue their research. Toronto Star