An independent panel of experts has concluded the country's Research and Development sector is in desperate need of bold reform.

The Ambitious Australia report, commissioned by the government, is warning Australia's future living standards are at risk unless the country moves toward focused, mission‑driven innovation tied directly to economic growth, productivity and sovereign capability.  

Right now R&D investment has fallen to just 1.69% of GDP; almost half the OECD average.

• GUEST: Anna-Maria Arabia, Chief Executive at the Australian Academy of Science
• PRODUCER: Eddy Diamond