Delivering his first budget, Federal Treasurer Joe Hockey maintained that one of Australia’s greatest strengths as a nation “is our capacity to innovate and invent, however a range of assistance programs will be drastically reduced.
Delivering significant cuts to the limited funds and programs that have offered the industry assistance over the years, the Government will start by abolishing a range of industry assistance programs, saving over $845 million, refocussing effort on innovation and self-reliance.
The official papers are online including a transcript of last night's speech.
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