Scientific advances over the past 20 to 30 years have contributed an estimated $330 billion of Australia's economic growth, according to a new report by the Australian Academy of Science.
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The report, commissioned by the Office of the Chief Scientist and the Australian Academy of Science, found the areas of physical, mathematical and biological sciences contributed to 26 per cent of Australian economic activity. Without advances made in the area of biological sciences, and subsequent incorporation into products and services, the Australian burden of disease would be 18-34 per cent higher than it is today.
The report, The Importance of Advanced Physical, Mathematical and Biological Sciences to the Australian Economy, produced by the Centre for International Economies, estimated that medical and biological advances contribute $65 million and $85 million respectively to the economy each year.
Australia’s outgoing Chief Scientist, Professor Ian Chubb said: “We have, for the first time, a credible estimate of a phenomenon that defines our lives and underpins our prospects for growth. I trust it will inform our discussions about the actions we take to maximise the benefits of science for Australians.”
Professor Ian Chubb, who stood down today as Chief Scientist to be replaced by Alan Finkel, released a statement earlier this week about the importance of science to Australia’s future.
In the statement, Professor Chubb said: “There is no other path to the future that I believe Australians want than to put science at the core of everything we do.”
Read the full statement
Published: 22/01/2016