Research and Development Investment Target

Australians want to know where the new jobs are coming from, what their kids will do for a living and what the jobs of the next generation will be.

Nothing matters more to Labor than securing the jobs of the future: jobs that help Australians aim high, raise families and lift their standard of living.  

The new jobs of the future require new skills. Designing skills, coding skills – building, refining, adapting and servicing the machines and supply chains of a new age.

Three out of every four of the fastest growing occupations in Australia will require skills in science, technology, engineering and mathematics.

Not just researchers and programmers but technicians, electricians, plumbers and machine mechanics.

Yet right now, in our schools, TAFES and universities, there not enough people are acquiring these skills. Australia must get smarter – or we will get poorer.

Labor believes Australia can be the science, start-up and technology capital of our region: attracting the best minds, supporting great institutions and encouraging home our great expats. 

That is why Bill Shorten has nominated the goal of seeing Australia devote 3 per cent of our GDP to research and development by the end of the next decade. 

Labor wants more Australians making breakthroughs and adapting technology here at home. And more Australian businesses sharing in the benefits of that technology: in our warehouses, in our factories, in our farms and design firms.

Devoting 3 per cent of GDP to research and development will help harness the power of science, technology, engineering and mathematics to prepare for the future. 

A future of knowledge and service industries and advanced manufacturing, a nation of ideas and a country that makes things here. 

Our future prosperity depends on harnessing Australian ideas and defining a new global market for world-leading products. 

More information about Labor’s positive plan is available in the Budget Reply Speech and here.