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Medical Research Future Fund an investment in Australia’s health

Burnet Institute

14 May, 2014

Leading medical research organisation, Burnet Institute has welcomed the Federal Government’s 2014-15 budget investment of a new $20billion Medical Research Future Fund.

The announcement of the Fund by Treasurer, The Hon. Joe Hockey MP of an initial $1.1billion allocation, growing to $20billion by 2020 is expected to be the largest of its type in the world and will double the government’s investment in medical research.

Burnet Institute Director and CEO, Professor Brendan Crabb said the investment was a major step in improving the health of all Australians and those in the region, and will lead to the provision of an improved and sustainable health system for the future.

“The creation of this new fund is a profound endorsement of the value of health and medical research to society. It is acknowledgement by the Government of the benefits the sector offers to improve the health and prosperity of the nation,” Professor Crabb said.

“It also brings much-needed confidence to a sector that has continued to face funding uncertainty for many years.”

Professor Crabb said Australian medical research was enormously competitive on the global stage, delivering many breakthroughs, including the discovery of new vaccines, drugs, and advanced medical devices that have reduced the burden of disease, saved lives, and improved quality of life.

“The Medical Research Future Fund will support a wide array of health issues from those of the aged, to the young, and the vulnerable in our community and throughout the world,” he said.

“A strong medical research sector will bring substantial economic benefits, improved employment opportunities and international investment opportunities.”

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Contact Details

For more information in relation to this news article, please contact:

Paul Rathbone

Executive General Manager, Public Affairs & External Relations

Telephone

+61392822113

Email

paul.rathbone@burnet.edu.au

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