Returning to work for the new political year today, the Prime Minister, John Howard, has announced extra spending as part of his government’s Innovation Action Plan.

The funding includes $2.9 billion over 5 years for “the strengthening of our ability to generate ideas and undertake research; accelerating the commercial application of these ideas; and developing and retaining Australian skills.”

Text of Prime Minister John Howard’s Federation Address launching the government’s “Backing Australia’s Ability” policy at the Australian Technology Park Centre in Sydney.

In this centenary year of Australia’s Federation it is my great pleasure to present this year’s Federation Address and, in so doing, launch the Government’s Innovation Action Plan for the Future, Backing Australia’s Ability.

In last year’s Federation Address, I looked ahead to the year 2010 and expressed my firm belief that Australia could not only consolidate but entrench our current economic strength through the tangible benefits generated by technological change, software revolutions, scientific innovation and the expanding frontiers of the knowledge economy. [Read more…]