Part 4/11:
The conversation then shifted toward Australia’s capacity for innovation, especially in the energy sector, with Julie Hair from the Australian discussing the importance of research and development (R&D). She pointed out that national expenditure on R&D is languishing at just 1.66% of GDP, a figure that has effectively halved since 2008. This decline underscores a broader issue: the nation’s underinvestment in critical innovation sectors.