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PRODUCTIVITY COMMISSION PUTS SCIENCE TO WORK
28 March 2007

The Australian Academy of Science today welcomed the key findings of the Productivity Commission's research report on public support for science and innovation.

The Commissioners used multiple approaches to try to estimate the returns on public investment in science. While difficult to quantify these returns precisely, they concluded that there are 'widespread and important economic, social and environmental benefits' arising from public investment in research.

Academy President Professor Kurt Lambeck does not see this conclusion as surprising, saying: 'Similar studies in the United States have shown that half the productivity gains in the past 50 years are attributable to technological innovation and the basic science that underpins innovation.

'The knowledge-based economy of the 21st century will be even more dependent on scientific knowledge as global competition increases the pace of change.'

The Academy agrees with the Productivity Commission's finding that career structures for Australia's early- to mid-career researchers require urgent attention.

The Academy also is concerned about the related issue of Australia permanently losing many valuable post-doctoral scientists overseas and has suggested a 'Boomerang Scheme' to tempt Australians back to the country before they became too settled overseas. The scheme would involve substantial start-up funds, a salary equivalent to Australian peers and job security.

The scheme also could be used to attract international top scientists from around the world to Australia.

The Academy will comment on the Productivity Commission report further when it has examined the 800-page report in detail.