A federal Labor government would introduce bigger tax incentives to encourage Australian businesses to work with universities and science research agencies, opposition leader Bill Shorten has said.
If Labor is elected on 18 May, it will provide a 10 per cent “collaboration bonus” as part of a plan to increase business investment in R&D to 3 per cent of GDP by 2030.
During campaign speeches and debates, Shorten has pledged that a Labor government will “invest in industries where Australia can be best in the world”, including advanced manufacturing, hydrogen energy and battery technologies.
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