James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

My question is to the Cabinet Secretary, representing the Minister for Industry, Innovation and Science. Can the Cabinet Secretary update the Senate on the success of the government's National Innovation and Science Agenda, and how it is supporting Australian scientific research and jobs?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

I thank the honourable senator, the very honourable senator, from Victoria for his question. Innovation and science have been very much at the heart of the agenda of this government, particularly under this Prime Minister, Mr Turnbull. Only yesterday, the Prime Minister chaired a meeting of the Commonwealth Science Council to discuss the government's progress in promoting science across Australia.

For us, the Innovation and Science Agenda is not a one-night stand; it is an ongoing relationship. We are in this for the long haul. The agenda was launched late last year, with 37 individual measures. Eighteen measures have been finalised or substantially completed. Another five will be finalised by the end of this month. This includes releasing our Global Innovation Strategy policy statement, rolling out our regional collaboration grants, launching the incubator support grants and getting on with a host of tax measures which will make it easier to invest in Australian start-ups. An additional nine measures will be finalised by the end of the year.

This government has set itself the ambitious target of implementing the whole of the agenda by the end of next year, and that is what we are doing. We are performing. The $1.1 billion agenda is a testament to our approach to ensuring that economic growth continues on its quarter-century trend. We have had 25 years of continuous economic growth. Growth does not just come out of thin air; you have to keep focusing on the sources of growth. We need to keep diversifying the economy. It is innovative entrepreneurs who create the opportunities for themselves and others. Between 2006 and 2011, Australian start-ups added 1.44 million full-time equivalent jobs to our economy. Start-ups are important, but innovation is about more than start-ups. Innovation occurs across the economy as a whole. It is about established businesses doing things better to stay competitive. It is happening on the factory floor, on our farms, at the supermarket checkout—(Time expired)

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Paterson, a supplementary question.

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Can the Cabinet Secretary detail for the Senate the government's investment in Australian Synchrotron, in my home state of Victoria, under the National Science and Innovation Agenda?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

As part of the National Innovation and Science Agenda, the Australian government has invested $520 million and has taken ownership of the Synchrotron in Victoria. Indeed, the Minister for Industry, Innovation and Science is so indefatigable, so hard-working, that he even visited the Synchrotron on the weekend with Olympic medallist Cameron McEvoy, a physics undergraduate, highlighting the importance of science and research.

The Synchrotron is leading the world-leading research in a number of areas, from cancer to diabetes research and breakthroughs in nutrition. And we are already looking to the future.

Jacinta Collins (Victoria, Australian Labor Party, Shadow Cabinet Secretary) Share this | Link to this | Hansard source

Why didn't you go, Arthur?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

I am hoping to go soon. In fact, Senator Collins, we can go together—it is your home state!

Senator Jacinta Collins interjecting—

I am sure it would be nice to go together, Senator Collins. We are already looking to the future. Under our agenda, the Chief Scientist is assessing what is next in big science infrastructure for Australia.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Paterson, a final supplementary question.

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Can the Cabinet Secretary outline some of the other investments made under the National Innovation and Science Agenda?

Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Link to this | Hansard source

In addition to the Synchrotron in the science space, the government is investing more than $290 million in the Square Kilometre Array. This is an international science project involving 10 countries which will see hundreds of thousands of antennas across Australia and South Africa, with 130,000 antennas right here in Australia. The data that the SKA is expected to process will exceed the world's current total internet traffic and give us the highest resolution images of the Milky Way in astronomical history.

We have also launched a $500 million biomedical translation fund with $250 million of Commonwealth funding matched by the private sector—a key example of how the government delivers bang for the taxpayer's buck. We are investing in new ideas through our Entrepreneurs' Program, angel investment tax incentives and, as I mentioned earlier, the Global Innovation Strategy.