Govt urged to implement manufacturing report
Medicines Australia chief executive Dr Brendan Shaw today urged the Government to implement the recommendations of the Prime Minister’s Manufacturing Taskforce report.
Dr Shaw said the Smarter Manufacturing for a Smarter Australia report raises important issues facing Australia’s manufacturing sector that need to be tackled.
“This report is an opportunity to lay out a clear roadmap for the future of Australian manufacturing, and I encourage the Government to grasp it,” Dr Shaw said.
“The taskforce has highlighted some key opportunities such as building better links between universities and industry, greater engagement in global value chains and capitalising on the rise of the Asian economies.
“Importantly, the taskforce underscores the value of the R&D tax credit.
“The Australian manufacturing sector will be better placed to reach its potential if these recommendations are implemented.
“Australia already has a medicines industry with export earnings exceeding $4 billion year and attracting over $1 billion a year in R&D investment. We have the potential to do so much more.
“Australia has a long history of not reaching its full potential in developing innovative technologies, businesses and industries despite having the basic building blocks for doing so.
“A strategy that encourages innovative industries like the medicines industry to reach their full potential is critical to ensuring Australia’s post-mining boom future and providing competitive high-skill, high-wage jobs for Australians.
“We support the idea of a cross-sectoral industry support program that may not necessarily target a particular firm or industry, but encourages the competitive activities of a suite of innovative industries that we need to do more of if Australia is to benefit from its great scientific base.
“The Australian medicines industry is one industry which has the potential to contribute more than it already does to Australia’s economy but needs the right policy settings to be put in place.
“We need to get better at capitalising on the things we do well.”
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