The Wire

Flanked by Minister Christopher Pyne, Malcolm Turnbull announced the new $1Bn Innovation Statement utilising collaboration, capital, creativity and loads of talent both homegrown and imported. He says there needs to be culture change including a reduction of harsh insolvency action against startups. Opposition shadow Minister Kim Carr says that the government is performing a pea-and-thimble trick with funding and we should wait till Scott Morrison hands down MYEFO next week so that we can check the figures