I had the pleasure today of chairing the second meeting of the Prime
Minister's Science, Engineering and Innovation Council and hearing
of the opportunities for value adding for all Australians flowing
from the excellence of Australian science.
PMSEIC agreed to improve the innovation potential of Australia through
strengthening the education system, providing better venture capital
markets and encouraging a more entrepreneurial culture throughout
Australian society.
The issue of disincentives for entrepreneurs arising from Australia's
tax system will be referred to the Ralph Committee work on business
tax.
PMSEIC also examined major issues affecting Australia's long
term development.
The Council looked at the issue of dryland salinity, as a major emerging
problem in Australia affecting agribusiness, infrastructure, rural
townships and some major urban areas. The Council considered a range
of possible solutions, and agreed that these could be developed further.
Consistent with Government strategy on greenhouse gases, the Council
received an update on the source of greenhouse emissions and the opportunities
that new technologies offered both for abatement of the emissions
and of new industry development. Motor vehicle and energy system technologies
were identified as providing considerable opportunities.
Developments in biotechnology and health-related medical research
are major opportunities for new Australian industries. Council members
identified major issues on research and commercialisation that required
consideration in order to secure Australia's place in the next
century, such as developing the education system, providing greater
incentives for venture capital for new companies and improving the
capital gains tax systems.
PMSEIC also agreed on the importance of keeping Australia at the leading
edge of major international science facilities and received reports
on Australia's position on securing a role in the Square Kilometre
Telescope Facility and the Global Biodiversity Information Facility.
Copies of the papers presented to Council members can be found at
the PMSEIC home page, under details of the second Council meeting
at: http://www.isr.gov.au/science/pmseic/pmseic.html
4 December 1998