The Academy of the Social Sciences in Australia welcomes the opportunity to make a brief submission to the 2017-18 Federal Budget. The attached submission recognises that research pays its way. It is a key driver of future living standards. It needs true Budget recognition as an investment that contributes handsomely to fiscal sustainability – and more. Australia risks under-investing in knowledge. Opportunities exist for innovative support of research. Two such opportunities that would be cost-effective and could be adopted now in the Budget are: income-contingent loans for research and development that partners universities with industry; and deployment of endowment funds for research infrastructure, including for social innovation through research such as in disability and health. These two steps alone could play a big part in a program of progress that delivers growth with equity and sustainability…
