Australia’s Comparative Advantage
Establishing proper policy foundations, combined with public support and effective leadership, will better place Australia on a trajectory for national well-being.
In June 2012 the Australian Government announced Securing Australia’s Future, a $10 million investment in a series of strategic research programs delivered to the Australian Chief Scientist and the Commonwealth Science Council (previous to October 2014, the Prime Minister’s Science, Engineering and Innovation Council, PMSEIC).
Securing Australia’s Future was a response to global and national changes and the opportunities and challenges of an economy in transition. Productivity and economic growth will result from: an increased understanding in how to best stimulate and support creativity, innovation and adaptability; an education system that values the pursuit of knowledge across all domains, including science, technology, engineering and mathematics; and an increased willingness to support change through effective risk management.
Establishing proper policy foundations, combined with public support and effective leadership, will better place Australia on a trajectory for national well-being.
The depth of Australia’s linguistic and inter-cultural competence will be a determining factor in the future success of developments in innovation, science and technology, research capacity, international mobility, trade relations and economic competitiveness.