Report finds $3billion innovation incentive is ineffective, suffers from rorts

By Fergus Hunter
Updated September 28 2016 - 10:18pm, first published 6:09pm
Innovation Australia chairman Bill Ferris says the R&D program is worthwhile but needs the panel's recommendations to be adopted. Photo: Quentin Jones
Innovation Australia chairman Bill Ferris says the R&D program is worthwhile but needs the panel's recommendations to be adopted. Photo: Quentin Jones

The Research and Development Tax Incentive, a significant chunk of the government's $9 billion of annual support for innovation, is failing to achieve results, lacks accountability and risks becoming unsustainable, according to a review conducted by three senior public servants.

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