All Federal discretionary grants are on hold while the Federal Government prepares for the May budget. No applications will be progressed until after the budget.
Adrian Spencer, CEO of GrantReady said, “From our experience, this is the usual approach by a new government. In the first eight months, a new government reviews the current programs and considers its approach.”
Grant programs are a barometer of public policy. So, while the new Federal Government defines its vision, the grants are on hold. Once the May budget is decided and the government’s vision is defined, grants will be changed to reflect these priorities.
What does this mean for businesses?
“Businesses should not be concerned,” explained Spencer. “A change of government always brings new programs and refreshes of existing programs.”
Some existing legislated programs will not be affected by the freeze and, will continue as usual. These include the R&D tax incentive, Export Market Development Grants (EMDG) and Tradex.
The grants programs that are affected by the freeze include Commercialisation Australia, the Clean Technology Innovation Program and, Enterprise Connect.