The future of co-operative research centres (CRCs) may be in doubt following the announcement of a wide-ranging Federal Government review.

There are 36 active centres in the program, including the Bushfire & Natural Hazards CRC, which was last year promised $47 million in funding.

The review, led by prominent lawyer David Miles, will consider whether CRCs are the right vehicle for achieving the Government’s priorities.

CRC Association CEO Tony Peacock says he will be disappointed if any funding is cut.

“We think this would only affect new CRCs but we do have to take this really seriously,” he told insuranceNEWS.com.au.

“The minister has told us this is not a witch-hunt, but it won’t just be a tick-a-box exercise either. There are alternatives to CRCs that the review might see more merit in.”

Industry Minister Ian Macfarlane says the CRC program’s 25th anniversary is a good time to take stock “and ensure Australia is making effective investments in collaborative projects that will boost… productivity and international competitiveness”.

The Insurance Council of Australia (ICA) intends to participate in the review process.

“ICA supports research that helps make the community more resilient to the impact of natural disasters,” a spokesman told insuranceNEWS.com.au.

The review will start this month and produce a final report early next year.