Front page of the AFR today:
Sorry – no R&D grants because we need the money so that we can give tax cuts to companies so that they can spend more on R&D (disclaimer: more R&D will only occur if there is enough cash is left after paying higher dividends, performing more buybacks and awarding managers bigger bonuses).
I don’t want to lose track of the fact that there is some good policy at the heart of this – i.e. changes in R&D grants to reduce payments to companies that were gaming the system: