Science research funding receives $233 million boost
More than $200 million in funding will be given to science research after the organization previously announced hundreds of jobs would be lost due to rising costs.
Finance Minister Jim Chalmers announced a $233 million commitment to the CSIRO on Wednesday, ahead of the mid-year budget update.
The funding will be used to continue research and innovation in areas of “vital national importance” over the next two financial years, adding to the CSIRO’s current budget of around $1 billion annually.
The cash will enable CSIRO to expand its work in areas including advanced technologies such as artificial intelligence, critical minerals, climate change adaptation and biosecurity threat mitigation.
In November, the CSIRO said up to 350 research positions had been adjusted in the latest round of redundancies due to “the rising cost of doing science”.
The agency said it would not prioritize specific areas of science to make itself sustainable.
Labor has said it supports the CSIRO in making independent decisions such as research priorities and will continue to give it more money.
Dr Chalmers said the government would support the organisation’s “vital work” in the future.
“The future of our economy and our nation’s productivity depends on CSIRO’s pioneering research in these areas, which is why this funding increase is so important,” he said.
Science Minister Tim Ayres said the organization was “at the heart” of its efforts to tackle the biggest challenges facing societies.
“This funding underlines the Albanian government’s unwavering commitment to Australian science,” he said.
“We support CSIRO to ensure its success and sustainability as our national science agency.”
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