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Business R&D sees 7% increase

Australian businesses spent AU$17.9 billion on R&D in 2010/11, an increase of more than seven per cent from the previous year, according to Australian Bureau of Statistics data published on 11 September.

Industry and innovation minister Greg Combet said it was encouraging that small firms with up to four employees increased their R&D spending by 28 per cent to more than AU$800 million in the same period.