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Increase R & D budget to EU target of 3% of GDP by 2010

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R & D spending is the stimulus for creativity and technological leadership.If Australia wants to be a clever country it needs to reduce its dependency on agriculture and mining.

Our budget on R and D is about 1.59% of GDP and declining.Average of the OECD is now about 2.5%.Most of the major countries in the OECD, our competitor countries like Canada and the European Union, have already set targets at 3% by the year 2010.