The Federal Government's 2015-16 Budget announcements benefit research
14 May 2015
The Federal Government’s 2015-16 Budget was announced this week with a boost for medical research funding. The new funding is expected to save lives and help thousands of Australians, especially those living with melanoma. Hopefully this will ensure more government support over the next few years for MIA research.
The Government will distribute more than $400 million from the Medical Research Future Fund (MRFF) for health and medical research over the next four years, beginning with an initial disbursement of $10 million in 2015-16.
The MRFF fund has come at the best time to deliver renewed confidence to the health and medical research sector. Within a decade there will be a doubling of funding for medical research via a safe-guarded future fund while giving some immediate relief through an initial $10 million disbursement, and another $407 million to come.
“With an ageing population and more than seven million Australians already living with chronic illnesses such as cardiovascular disease, cancer and mental health issues, we cannot afford not to invest in health and medical research to find new ways to diagnose, treat and prevent these debilitating diseases,” said Association of Australian Medical Research Institutes (AAMRI) President, Professor Doug Hilton.
Professor Hilton said that health and medical research supported by the MRFF would not only improve life expectancy and quality of life for Australians, it would also deliver financial returns to the nation.
“Every dollar invested in health and medical research generates more than two dollars in health and productivity gains by reducing the burden of disease on the health system and productivity, and through the creation of new innovative businesses and jobs in the health industry,” he said.
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