Budget 2019-20 - Further boost for Australian jobs and the economy
The 2019-20 Budget demonstrates the Morrison Government’s commitment to new industries and skills, while also ensuring we support traditional Australian industries and jobs, to further strengthen our economy.
These initiatives complement our other commitments to grow Australian industries by supporting more exports and free trade, making energy more reliable and affordable, and delivering a new skills package.
The Morrison Government is delivering a new $19.5 million national Space Infrastructure Fund to support our emerging domestic space industry. This means money on the ground to help triple the size of the Australian space sector to $12 billion and increase employment to 30,000 jobs by 2030, as part of our plan to create more jobs and growth in emerging sectors of the economy.
Australia’s pioneering space sector is developing rapidly and we need to maximise this growth for the benefit of the broader economy. The space fund will support the Coalition’s plan to help create 1.25 million more jobs over the next five years. Our investment in space is underpinned by the new 10-year Australian Civil Space Strategy that will also help to ensure the space sector can gain a larger share of the US$350 billion global space economy.
The $19.5 million Space Infrastructure Fund includes:
- $2 million for the delivery of future world class space manufacturing capability in New South Wales which will support the development of high-tech skills and new space objects.
- a $6 million Mission Control Centre in South Australia which will create a platform for SMEs and researchers to control small satellite missions, enabling real-time control and testing and the accelerated development of Australian satellite technology.
The Morrison Government has now committed over $73.2 million to support the development of Australia’s space sector including $47.7 million to establish the Australian Space Agency, $19.5 million for a Space Infrastructure Fund and $6 million for the Space Discovery Centre.
The Morrison Government is committed to making sure all Australians have the skills to equip them for jobs of the future. To ensure our children can compete for jobs in the coming decades, we need to build a stronger Australian workforce with more science, technology, engineering and mathematics (STEM) skills.
We have announced a $3.4 million package over four years, supporting greater participation of girls and women in STEM. This includes funding to extend the Science in Australia Gender Equity initiative in higher education and research institutions and showcasing the benefits of STEM skills and careers to our children to encourage more participation in STEM.
The Morrison Government wants to reduce the barriers preventing young Australians from accessing science and the 2019-20 Budget delivers $15.1 million for Questacon to expand its successful programs to promote science to nurture the next generation of Australian scientists.
The Morrison Government will also pilot a national version of an initiative giving Australian university students and graduates the opportunity to apply their skills to real world problems and solve challenges that benefit local businesses. Funding of $3.6 million over two years will deliver up to 15 Innovation Games each year, including in regional areas.
Our commitment to new industries and skills, while also ensuring we support traditional Australian industries and jobs, is part of our plan for a stronger economy.
Media contact: Minister Andrews' office 02 6277 7070