Federal Government’s commitment to medical research
Bionics Institute Director Professor Rob Shepherd praises the Federal Government’s commitment to medical research in the 2014-15 budget. The development of a new Medical Research Future Fund is visionary. Initially a $1.1 billion investment, the fund will to grow to $20 billion by 2020. Dividends from the fund will be spent exclusively on medical research and effectively double the government’s investment in medical research by 2023 to $2 billion.
“This is a vital injection of funding into a research sector that has made significant contributions to the health and wealth of the Australian community” Professor Shepherd said.
“It is a partnership between the medical research community and the Australian public designed to drive fundamental and applied medical research to improve health outcomes and drive wealth creation for all Australians as research outcomes are commercialised and delivered to the clinic.”
Professor Shepherd also commended the maintenance of the National Health and Medical Research Council’s budget.