Research Australia has used its submission to the Senate Economics Legislation Committee Inquiry into the National Reconstruction Fund Bill to urge the Committee to recommend the passage of the Bill, subject to two amendments proposed by Research Australia.
Research Australia believes the National Reconstruction Fund provides the opportunity to better leverage Australia’s world leading health and medical research and create a vibrant and successful medical products industry which propels Australia forward to become a net exporter of medical products.
Doing so would provide significant benefits for Australians with more secure access to medical products, better health outcomes and the creation of well-paying jobs and new businesses in a sector that has enormous scope for ongoing global growth.
The proposed amendments are:
- require the Ministers to report to the Parliament on how the NRF has complemented other measures by the Government to support research, innovation and manufacturing. (Clause 91)
- require the quarterly investment reports to identify recipients of financial accommodation by name and to specify the priority area to which the financial accommodation relates. (Clause 82)
Research Australia’s submission is available here.