This month, Australia announced its 2015 budget, the first budget presented by the new conservative prime minister. Funding for several research agencies will decline, including an AUD 111.4 million ($103.0 million) cut for the Commonwealth Scientific and Industrial Research Organization, and AUD 120 million less for the Defense Science and Technology Organization. Funding for the Cooperatives Research Centres Program will decrease by AUD 80 million, and the Australian Research Council will receive AUD 74.9 million less over a three-year period. In addition, several programs were eliminated, such as the Australian Renewable Energy Agency. National Collaborative Research Infrastructure Strategy funding was renewed at AUD 150 million, and four-year funding totaling AUD 139.5 million was provided for the Future Fellowships program to support young researchers. Also announced was the establishment of the AUD 1 billion Medical Research Future Fund, which is expected to grow to AUD 20 billion by 2020.

Source: Science