AusBiotech welcomes new Coalition ministry

AusBiotech has welcomed the new Coalition ministry; in particular, the new Minister for Industry, Ian Macfarlane, who is returning to the portfolio he held from 2001 to 2007 when he was the Minister for Industry (Tourism and Resources).

AusBiotech also welcomed the new Minister for Trade and Investment, Andrew Robb; the new Minister for Health, Peter Dutton; and Barnaby Joyce as Minster for Agriculture. These three ministers will lead portfolios that are most relevant to life sciences industry. AusBiotech looks forward to a positive and effective relationship, focused on economic development, trade, jobs and investment.

AusBiotech CEO Dr Anna Lavelle said: “We are especially pleased to welcome the Hon Ian Macfarlane MP back to the areas of innovation and industry. He has already earned great respect for his role in developing the biotechnology industry in its earlier years.”

Ian Macfarlane provided exceptional support for the industry while it was in a crucial development phase. He is credited with pragmatic and valuable support for a national approach and programs such as CommReady and the Biotech Investment Fund, as well as a series of initiatives to develop Australia’s biotechnology sector such as Biotechnology Australia, which he set up to continue managing the National Biotechnology Strategy (NBS).

“Ian Macfarlane’s ministry has the greatest potential to support the biotechnology industry and the timing is perfect given the industry’s potential to increasingly contribute to the Australian economy through jobs, exports and value creation, as the mining boom softens,” said Dr Lavelle.

“We were pleased to see the Coalition is open to the idea of a ‘patent box’ tax incentive, as noted in the ‘The Coalition’s Policy to Boost the Competitiveness of Australian Manufacturing’, giving a great start to the dialogue between the new government and the biotechnology industry.”

The list of new ministers and parliamentary secretaries can be found here.