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Australia’s universities are calling for a bold new research and innovation investment strategy, arguing that it is vital to the economic transformation that the government and opposition parties both say the country must make.

The call was central to a pre-election policy blueprint released by Universities Australia – the voice of Australia’s universities – last Wednesday.

A “game-changing” national strategy for funding wealth-generating research and innovation is needed, yet Australia is the only OECD country without a national research and innovation plan, the universities body said.