Tesla chairwoman Robyn Denholm will lead the first review of Australia’s research and development landscape in almost 20 years, as the Albanese government seeks a better return on scientific spending to expand the economy.

Releasing the terms of reference for the government’s year-long review, Industry and Science Minister Ed Husic insisted everything was on the table for possible reforms, due to “an unsustainable disconnect” between innovation and the country’s high economic ambitions.