Australia is falling behind in what academics from the University of Queensland say are basic requirements of a thriving science and technology base. This will eventually limit future economic development and threaten Australian living standards.

The limited amount of spending by local companies on research and development (R&D) in recent years has not helped this worsening situation.

Also the amount spent on education seems to be decreasing. In Australia per-student expenditure on tertiary education has dropped 8% since 1995. As a result more than 60% of employers reported difficulty in recruiting qualified chemistry graduates.

There is also a need for Australia to keep its best graduates in Australia with 10% of 18-35s living overseas due to a more mobile workforce.

Unless effective solutions are put into place Australia's position in the knowledge economy will only deteriorate further
(BRW, April 27 p 14)