The Government has made a welcome step toward establishing the Medical Research Future Fund with the introduction of legislation into Federal Parliament this week.
Announced in last year’s Federal Budget, the $20 billion future fund would more than double Australia’s annual investment in health and medical research over the next 20 years.
“I’m delighted that this legislation has been introduced, and I look forward to seeing it implemented as soon as possible,” said Academy President, Professor Andrew Holmes.
“With an ageing population and forecast increases in disease burden it is clear that our future health and wealth is dependent on medical research. Doing research here in Australia means we will be the first to benefit from the next generation of discoveries and also enables us to participate in and quickly adapt research conducted internationally,” Professor Holmes said.
“Constrained funding has meant that in recent years many great medical research projects have been put on hold and left unfunded. Some of our very best researchers have had to pursue opportunities overseas, or leave medical research all together. This fund has the potential to change this and cannot come soon enough,” he said.
Subject to the passage of legislation, the fund could be operational by 1 August 2015.
© 2024 Australian Academy of Science
