As a follow-up to previous annual articles on Australia's R&D expenditure,this year I report on the continuing rise in business expenditure on R&D(BERD)to attain 8,446 million during 2004-05,an increase of 7.1% in real terms(10.4% at current prices)compared with the previous year.These figures were released by the Australian Bureau of Statistics(ABS)on 28 August 2006.Over the five years to 2004-05,BERD grew at an average 14.3% in real terms(20.8% at current prices),and now stands as a percentage of gross domestic product(GDP)at 0.95%,up from 0.91%(the revised figure for 2003-04).This continuous period of real growth dates back to 1999-2000 when this ratio was as low as 0.64%,following,amongst other economic considerations,the governments decision in 1995 to reduce the R&D taxation concession from 150% to 125%.
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