Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

that our children and grandchildren, have the great, high-wage jobs of the 21st century. Our priority is to ensure that the Australian economy continues its successful transition from one that was driven by a mining construction boom—an enormous and very welcome mining construction boom—to one that seizes the opportunities of these most exciting times in human history. We have never before seen such global economic growth in both scale and pace. Supercharged by technology, the opportunities have never been greater, but to succeed in seizing those opportunities, to continue that successful transition—which we are experiencing—we need to be more innovative, more competitive and more productive.

Every lever of government policy is pulling in that direction. Our innovation agenda represents a $1.1 billion investment to ensure that Australian children acquire the digital skills and literacy of the 21st century, that our great academic scientists and researchers collaborate better with industry and that investment and entrepreneurship is encouraged. Earlier today, together with the minister, we announced the composition of the new board of Innovation and Science Australia, composed of academics, business leaders and entrepreneurs. That is the team that will help us lead our science and innovation agenda and deliver the industries and the jobs of the future.

Those same priorities drive the government's defence white paper. We need to ensure that our defence dollar not only strengthens our armed forces in terms of the acquisition of new capabilities but also serves to build up and expand our local defence industries, from big manufacturers to technology start-ups. In South Australia last week—

Mr Champion interjecting—

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