R&DTI – Review of the dual-agency administration model
The Council is supportive of policy initiatives and reforms that help ensure our economy is competitive, innovative
and able to support Australia now and into the future. In particular, the Council encourages initiatives that help
expand entrepreneurship, increase productivity and support investment, and those that drive the development of
skills and talent, productive capacity and innovation through technology.
Australian business investment in innovation is estimated at $32-36 billion annually, or 1.9 per cent of GDP in 2016-
17, of which about half is R&D ($16.7 billion in 2015-16, and $17.4 billion in 2017-18).3 This investment generates
economic benefits for the investing firms and their customers in the form of new/improved products and lower
prices. It is also recognised by the OECD that businesses who invest in research are generally more productive,
with turnover growth for high R&D intensity firms between 5.9 to 7.3 times higher than for low R&D intensity firms.
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