<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
</head>
<body>
<div style="line-break:after-white-space">
<div><br>
<blockquote type="cite">
<div class="x_WordSection1" style="font-family:Helvetica; font-size:12px; font-style:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; text-align:start; text-indent:0px; text-transform:none; white-space:normal; word-spacing:0px; text-decoration:none">
<div>
<div style="margin:0cm; font-size:12pt; font-family:Aptos,sans-serif"><span style="font-family:"Lucida Grande"; color:rgb(51,51,51)"> </span></div>
</div>
<div>
<div style="margin:0cm; font-size:12pt; font-family:Aptos,sans-serif; line-height:0px">
<span style="font-size:1pt; font-family:"Lucida Grande"; color:rgb(51,51,51)">A BUDGET THAT BEGINS R&D REFORM BUT ADDS TO UNCERTAINTY TUESDAY 12 MAY 2026 Tonight’s Federal Budget takes some welcome steps towards reform of t...<span class="x_Apple-converted-space"> </span></span></div>
</div>
<div align="center">
<table class="x_MsoNormalTable" border="0" cellpadding="0">
<tbody>
<tr>
<td width="600" style="width:450pt; padding:0.75pt">
<table class="x_MsoNormalTable" border="0" cellpadding="0" style="max-width:450pt">
<tbody>
<tr>
<td valign="top" style="padding:0.75pt">
<table class="x_MsoNormalTable" border="0" cellpadding="0" width="100%" style="width:608px">
<tbody>
<tr>
<td style="padding:0.75pt">
<table class="x_MsoNormalTable" border="0" cellpadding="0" width="100%" style="width:602px; border-spacing:0px">
<tbody>
<tr>
<td style="padding:0.75pt">
<div style="margin:0cm; font-size:12pt; font-family:Aptos,sans-serif"><span style="font-family:"Lucida Grande""><img border="0" width="600" height="86" id="x__x0000_i1027" src="https://streem-attachments.s3.ap-southeast-2.amazonaws.com/y9oBDKoN5LWPDYag.png" alt="outreach header image" style="width:6.25in; height:0.8958in"></span><span style="font-family:"Lucida Grande""></span></div>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<tr>
<td style="padding:0.75pt">
<div>
<div style="margin:0cm; background:white"><strong style="font-family:"Lucida Grande""><span style="font-size:11.5pt; color:orange">A BUDGET THAT BEGINS R&D REFORM BUT ADDS TO UNCERTAINTY</span></strong><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><strong style="font-family:"Lucida Grande""><span style="font-size:11.5pt; color:red">TUESDAY 12 MAY 2026</span></strong><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">Tonight’s Federal Budget takes some welcome steps towards reform of the research and development system in Australia but lacks ambition and creates greater uncertainty.</span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">Science & Technology Australia (STA) CEO Ryan Winn welcomed the establishment of the National Resilience and Science Council, which is essential to implement the<span class="x_Apple-converted-space"> </span><a href="https://url.au.m.mimecastprotect.com/s/5oddC81V0PTzLqYV3CnfvUyp9BZ?domain=email.streem.com.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline"><span style="font-family:"Lucida Grande"">Ambitious
Australia report</span></a>.</span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">“Ambitious Australia provided the blueprint for the future of research and development. We now need the whole Government to be part of the implementation,” Mr Winn said.</span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">Additional funding for Government agencies is positive, including $387 million for CSIRO, $273 million for the National Measurement Institute, $70 million for AI Accelerator grants and
$21 million for the Space Agency. And the Government has listened to the sector, committing to increase disbursements over time to $1 billion a year for the Medical Research Future Fund (MRFF).</span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">We also welcome the Government’s proposed reforms to the Research and Development Tax Incentive and venture capital tax reform, to incentivise business investment in research. </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">However, the scrapping of nearly $1.5 billion funding from Australia’s Economic Accelerator and grants from the Industry and Climate Change, Energy, the Environment and Water portfolios
are a concern for non-government agency research funding. </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">“Tonight’s Budget gives with one hand but takes with the other. Additional funding for government science agencies is always welcome, as key foundations for Australian science. And we
certainly support increased disbursements from the MRFF. This should have happened long ago.” </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">“But there is an overwhelming sense of uncertainty in the research and development industry as funding for non-medical research grants see a significant reduction. One third of the workforce
has told us they are planning to leave the sector. And we have decades-long under-investment in R&D that simply hasn’t kept up with the real cost of doing research.” </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">“The Government says it's taking a responsible approach to securing Australia's resilience and intergenerational equity – backing our R&D sector is the only way to do that.” </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt">“The Government also wants a Future Made in Australia. But increasingly our workforce doesn’t see a future here. Until the Ambitious Australia report recommendations are implemented in
full with corresponding new investment, our industry will continue to lack the certainty it needs to deliver on that ambition.” </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><strong style="font-family:"Lucida Grande""><u><span style="font-size:11.5pt">About Science & Technology Australia </span></u></strong><span style="font-size:11.5pt"><br>
</span><em><span style="font-size:11.5pt; font-family:"Lucida Grande"">Science & Technology Australia is the nation’s peak body representing more than 235,000 scientists and technologists. We’re the leading policy voice on science and technology. Our flagship
programs include<span class="x_Apple-converted-space"> </span><a href="https://url.au.m.mimecastprotect.com/s/8VZzC91WPRTM9q2ynHEhnUqVffw?domain=email.streem.com.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline">Science Meets Parliament</a>,<span class="x_Apple-converted-space"> </span><a href="https://url.au.m.mimecastprotect.com/s/ledMC0YKPviMZBmOvH2iBU90etY?domain=email.streem.com.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline">Science
Meets the Economy</a><span class="x_Apple-converted-space"> </span>and<span class="x_Apple-converted-space"> </span><a href="https://url.au.m.mimecastprotect.com/s/znA0CgZ0N1impyGX6f3s7U4z2hn?domain=email.streem.com.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline">Superstars
of STEM</a>. </span></em><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><span style="font-size:11.5pt"> </span><span style="font-size:11.5pt"></span></div>
<div style="margin:0cm; background:white"><strong style="font-family:"Lucida Grande""><span style="font-size:11.5pt">Media contact: Paul Richards -<span class="x_Apple-converted-space"> </span><a href="mailto:media@sta.org.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline">media@sta.org.au</a><span class="x_Apple-converted-space"> </span>or
0412 145 905 </span></strong><span style="font-size:11.5pt"></span></div>
</div>
</td>
</tr>
<tr>
<td style="padding:0.75pt">
<table class="x_MsoNormalTable" border="0" cellpadding="0" width="100%" style="width:602px; border-spacing:0px">
<tbody>
<tr>
<td style="padding:0.75pt">
<div style="margin:0cm; font-size:12pt; font-family:Aptos,sans-serif"><span style="font-family:"Lucida Grande""><img border="0" width="600" height="54" id="x__x0000_i1026" src="https://streem-attachments.s3.ap-southeast-2.amazonaws.com/V4r7pa4e0RlRDNmP.png" alt="outreach footer image" style="width:6.25in; height:0.5625in"></span><span style="font-family:"Lucida Grande""></span></div>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<tr>
<td style="padding:0.75pt">
<div style="margin-top:11.25pt; margin-bottom:11.25pt">
<div style="border-width:1pt medium medium; border-style:solid none none; border-color:rgb(221,221,221) currentcolor currentcolor; padding:15pt 0cm 0cm">
<p><span style="font-size:9pt; color:rgb(153,153,153)">The views expressed in this media release are solely those of the sender and do not necessarily reflect the views of Streem.</span></p>
<p><span style="font-size:9pt; color:rgb(153,153,153)">You are receiving this email because you were included on Science & Technology Australia's media release. To unsubscribe and stop receiving emails from this organisation<span class="x_Apple-converted-space"> </span><a href="https://url.au.m.mimecastprotect.com/s/aeKtCjZ1N7i3PmRLEH1t8Um37wK?domain=email.streem.com.au" style="font-family:"Lucida Grande"; color:blue; text-decoration:underline"><span style="font-family:"Lucida Grande"">click
here</span></a>.<span class="x_Apple-converted-space"> </span></span></p>
</div>
</div>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
<div style="margin:0cm; font-size:12pt; font-family:Aptos,sans-serif"><span style="font-family:"Lucida Grande"; color:rgb(51,51,51)"><img border="0" width="1" height="1" id="x__x0000_i1025" src="https://email.streem.com.au/o/eJwsy01qAzEMQOHTjHce5B9Z8sKLniTIkYaYjAuZSQq9fUnJ9ns8bVnqps5aIGJkoMju1uyqBaiTJgvIkQ0YibptEaJmMjdaEYjb1SoJWbgETIkgArDFJcM51O7j4aeM3Y7TkxZlKpmKnxNvc30HN02H-MN2k9P80PYPlw8s6SsHBnBHu8vzGN-ynia7_S4Z5mM1fa3ycufzMJvvWYgLpoC-5158hgqeOaFnxFp75R46uZ8W_wIAAP___0pINg" style="width:0.0104in; height:0.0104in"></span><span style="font-family:"Lucida Grande"; color:rgb(51,51,51)"></span></div>
</div>
</blockquote>
</div>
</div>
<div style="line-break:after-white-space">
<div>
<blockquote type="cite"></blockquote>
</div>
<br>
</div>
</body>
</html>