Expense ($m) Department of Industry, Science and Resources
2001-02 -
2002-03 33.9
2003-04 102.6
2004-05 159.7
Explanation
The Government has decided to continue the R&D Start program by providing $534.9m over 5 years which will maintain the program until 2006.
The R&D Start program, available to Australian companies, is a merit-based program designed to assist Australian industry to undertake research and development and commercialisation through a range of assistance measures.
This measure is part of the Government’s commitment to provide $534.9m over 5 years to continue the R&D Start program. Loans totalling $8.0m in 2002-03, $15.0m in 2003-04 and $15.0m in 2004-05 will be offered under the program. The program is designed to assist Australian industry undertake research and development and commercialisation of new ideas.
Loan facilities alter the composition but not the quantum of the Commonwealth’s financial assets, and for this reason the measure is shown as having a zero impact on fiscal balance.
See also the related expense measures titled 175% Premium Rate - R&D Tax Concession, and R&D Start and the related revenue measure titled Backing Australia’s Ability - 125% Effective Life Write-off for R&D Plant in the Treasury portfolio.
