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AP National Business

Australia has $1 billion plan to convert ideas into jobs

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Published 7:48 PM

By NICK PERRY
Associated Press

WELLINGTON, New Zealand (AP) — Australia’s government says it will spend more than $1 billion on converting research ideas into commercial hits as it looks to improve the economy with an election looming. Prime Minister Scott Morrison said a new program called Australia’s Economic Accelerator would focus on commercializing research in six areas: defense, space, minerals, food, medical products, and clean energy. Morrison faces a tough election challenge from opposition leader Anthony Albanese, whose Labor Party has been leading the government coalition in some opinion polls. Morrison has yet to announce a date for the election, which must be held by May 21.

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