The Morrison government will dedicate $2 billion towards commercialising ideas in priority areas of economic need, and will also promise up to $800 in incentive bonuses for aged care staff, as it seeks to tackle long and short-term challenges posed by COVID-19.
In his year-opening speech to the National Press Club on Tuesday, Scott Morrison says the aim of the commercialisation funding will be to bridge the so-called valley of death.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com