Gladys Liu (Chisholm, Liberal Party) Share this | Hansard source

I rise to speak on the Industry Research and Development Amendment (Industry Innovation and Science Australia) Bill 2021. This bill repurposes the advisory body known as Innovation and Science Australia to form Industry Innovation and Science Australia, or IISA. But this isn't just a name change. It's part of a broader reform to IISA to clarify its focus on Australian industry innovation. Innovation and Science Australia was conceived and announced by the coalition government under the National Innovation and Science Agenda in 2015 and formally established in 2016 to fill a need for a new dedicated and high-profile body to advise the government on innovation, science and research matters. The body has made an important contribution to furthering Australia's innovation and science capabilities and has helped inform the government's investment to enhance in these areas, but now it is time for a step-up.

The inclusion of 'industry' in IISA's name is an important signal to stakeholders in both the private and public sectors. It acknowledges the critical role that innovation and science play in enabling competitive Australian industries and driving a productive, resilient and prosperous economy. It highlights the Morrison government's commitment to seeking the best expert advice on these matters, to supporting genuine and practical innovation in Australian priority sectors and to ensuring sovereign capability and industry resilience, particularly in light of the COVID-19 pandemic and a need for quick and robust economic recovery.

The Morrison government's investments in innovation, science and technology are growing Australia's competitive advantage, lifting our economic resilience and enhancing the quality of life of all Australians. Importantly, these investments are backing in our businesses and the 860,000 Australians who work in the manufacturing sector. Our businesses and industries stepped up to the recent challenges they have faced in innovative and genuine ways, often harnessing technology to drive profitability, grow their businesses, and not just keep people employed but create more jobs.

This accelerated use of science and technology has not only helped our businesses stay afloat but also created opportunities for them to be more connected and more resilient to future shocks. That's why, in the 2020-21 budget handed down in October last year, we made a record investment of $11.9 billion in the science, research and innovation system. That is hundreds of millions of dollars of investment more than when Labor was last in office. Our investment is used to underpin a strong research and intellectual capital base, support the commercialisation of good ideas, maintain Australia's comparative and competitive advantages, ensure our national and sovereign needs are met and guarantee we have the human capital and physical infrastructure necessary to seize the opportunities of the future.

As the government's strategic advisory body on industry innovation, IISA is playing a pivotal role in guiding and advocating government policies and programs to drive economic recovery and growth, and in particular the Modern Manufacturing Strategy. By playing to our strengths and strategically investing in harnessing our world-class science and research, we can build our national resilience into a stronger economy and take more of our quality products to the world.

This strategy is already building confidence and having an impact. The Australian Industry Group's April Australian Performance of Manufacturing Index saw an increase of 1.8 points, to 61.7 points, which is the highest monthly result since March 2018. I have seen this impact firsthand in my own electorate of Chisholm. Local Box Hill business Atmo Biosciences is doing incredible work helping to unlock the mysteries of the human gut and improve diagnosis and treatment for common gastrointestinal disorders. The Morrison government is backing Atmo with significant support delivered through the modern manufacturing fund, as part of the Modern Manufacturing Strategy, to help them to improve their manufacturing processes and scale up their business.

The Modern Manufacturing Strategy is at the forefront of the government's economic recovery efforts. It is a whole-of-government strategy to help Australian manufacturing scale up, become more competitive and resilient, and create jobs for current and future generations. Repurposing Innovation and Science Australia to Industry Innovation and Science Australia makes a simple but significant step in the implementing of these transformational policies.

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