Science research will receive more than $200 million in funding after the organisation previously announced hundreds of jobs were set to be lost due to rising costs.
Treasurer Jim Chalmers announced the $233 million commitment for the CSIRO on Wednesday ahead of the mid-year budget update.
The funding will be over the next two financial years to maintain research and innovation in areas of “vital national importance” and adds to the CSIRO’s existing budget of almost $1 billion a year.
The cash will enable the CSIRO to expand their work in areas including advanced technologies such as AI, critical minerals, climate change adaption and mitigating biosecurity threats.
In November, the CSIRO said up to 350 research positions were set to go in the latest round of redundancies as the “cost of doing science has gone up”.
The agency said to keep itself sustainable, particular areas of science would be de-prioritised.
Labor said it backed CSIRO to make independent decisions such as research priorities, and would continue to give it more money.
Dr Chalmers said the government will support the organisation’s “vital work” into the future.
“The future of our economy and our nation’s productivity depend on the pioneering research the CSIRO does in these fields, which is why this funding boost is so important,” he said.
Science Minister Tim Ayres said the organisation was at the “heart” of the nation’s effort to tackle the biggest challenges facing societies.
“This funding underscores the Albanese government’s unwavering commitment to Australian science,” he said.
“We are backing the CSIRO to ensure its success and sustainability as our national science agency.”