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$1.277 Billion Transfer For Medical Research Future Fund: Australian Government Puts Innovation Money Where Its Mouth Is

August 29, 2016 Business News No Comments Email Email

Australian health and medical researchers have welcomed a significant step to secure Australia’s health and medical research future.

The transfer of $1.277 billion to the Medical Research Future Fund Special Account is being read by the sector as words in action.

“This is Prime Minister Turnbull and Health Minister Ley doing exactly what they said they would do – build our health system and build an innovation nation,” said CEO of Research Australia, Nadia Levin.

“This is not just words, its action and its money, and it is going to make an enormous difference to the health of Australians and the health of our economy.

“When it is fully funded by early next decade, the Medical Research Future Fund will deliver around $1 billion a year for new therapies, treatments, drugs and devices that will directly benefit Australians”.

Weeks of consultation and hundreds of submissions are feeding into a MRFF strategy and principles document, which will help shape what the first $61 million is invested in, this financial year.

“We along with our alliance members, are extraordinarily excited about working with the government on the policy settings and projects over the coming weeks and months,” said Levin.

Research Australia is an alliance of 160 members and supporters advocating for health and medical research in Australia. For more information go to http://researchaustralia.org

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