"Abbott Government spending on science, research and innovation this year is now only 0.56 per cent of GDP, an equal record low since Treasury started publishing data in the late 1970s," Mr Bandt said in a media release on September 29.
The figures from the media release have been investigated and confirmed by ABC Fact Check.
When it comes to spending on research and innovation, Australia already lags behind countries like the US, UK, Germany, Japan and Korea. But we’re set to fall even further behind. This year, we will invest only 0.56% of GDP into science and research -- that's less than we did in 1979.
If we keep cutting spending, the country's brain drain will continue and we’ll wake up when the mining boom is over to find that we’re a hollowed-out, uneducated quarry.
It’s time we invest in our future by respecting research.
On Tuesday, I joined the launch at Parliament House of Science Matters -- a collection of works by some of Australia’s leading scientists and researchers on how we could address the challenges of Australia’s future.
Yesterday, I spoke in Parliament about why we need to respect and invest in research and science, and the importance of curiousity-driven research -- the type of research that has led to some of the breakthroughs in technology that we now use in everyday life.