The proposal has four componentsto increase expenditure to support Australian science, research and innovation.

Component 1 – Establish an additional non-refundable tax offset of 20per centfor companies that hire science, technology, engineering and mathematics(STEM) PhD students or equivalent graduates in their first three years of employment.

Component 2 – Restore the Sustainable Research Excellence grants program, which ceased in December 2016.

Component 3 – Twelve capped programs, with funding for each program to be ongoing and indexed in line with growth in the consumer price index (CPI). Where relevant, departmental expenses have been calculated based on programs of a similar size.

a   $88.9 million each year to the Australian Research Council.

b   $83.3 million each year to the National Health and Medical Research Council.

c   $33.3 million to Cooperative Research Centres.

d   $50 million each year to research and innovation organisations to support women in science.

e   $175 million each year to increase funding to the Research Infrastructure Investment Strategy.

f    $15 million each year to support international collaboration via the existing global innovation strategy.

g   $70 million each year to the Future Fellowship Scheme.

h   $46.2 million each year to drive the development and implementation of a national open access publishing program.

i    $47 million each year to support the phasing-in of funding reforms that support the indirect funding of health and medical research.

j    $40 million each year to fund four new integrated health research centres.

k   $41.7 million each year to existing teacher training in STEM education.

l    $50 million each year for a Secure Work for Researchers fund,to assist universities and research institutes to transition their workers to ongoing employment.

Component 4 – Reverse two Government measures.

a    The 2014-15 Budget measure Science and Research Agencies –reduced funding. The total savings from this measure are to be returned to the Commonwealth Science and Industry Research Organisation (CSIRO), the Australian Nuclear Science Technology Organisation (ANSTO) and the Australian Institute of Marine Science (AIMS) divided evenly over three years from 2019-20.

b    The 2018-19 unlegislated Budget measure Better targeting of the Research and Development Tax Incentive.

The proposal would commence from 1 July 2019.