The Group of Eight (Go8), which represents Australia’s leading research-intensive universities welcomes the strategic and sensible Medical Research Future Fund (MRFF) Budget announcement of funding for long-term projects as part of a $6 billion investment in health and medical research.
Go8 members invest some $2 billion each year in medical research and win some 63 per cent of competitive NHMRC funding. They also educate over 60 per cent of Australia’s doctors.
Vicki Thomson, Go8 Chief Executive says the Budget announcement means there are now “exciting times and hard work ahead” for the health and medical research sector, with the commitment of substantial long-term funding to increase the contribution of Australian researchers to the health and well-being of all Australians, and globally.
“Health Minister Greg Hunt has rightly identified and acted upon key national health missions, delivering long-term funding in Genomics ($500m) and Mental Health ($125m),” she said. “We also welcome the 10-year, $1.3 billion Health and Medical Industry Growth Plan which will support frontier research, research commercialisation, clinical trials, and treatments for rare diseases and chronic conditions such as diabetes and heart disease. In total, the Go8 is pleased by the Government’s recognition of the value of such vital long-term medical research to the Australian population, and the economy.”
The Go8 also welcomes the $20 million funding for the Australian Medical Research Advisory Board (AMRAB) – Chaired by Professor Ian Frazer AC – to oversee the establishment and implementation of the Health and Medical Industry Growth Plan.
“The Minister has clearly set the MRFF’s strategic direction through the announced national missions and industry growth plan,” said Ms Thomson. “It is now the exciting responsibility of the health and medical research sector to ensure that the research and translation funded by the MRFF is robust and delivers outcomes.
“A return on investment to the Australian community from the MRFF will come through a rigorous commitment to excellence in research, translation of research, collaboration, and planning and governance of MRFF projects. We look forward to working with Government and AMRAB to ensure this is achieved.”
Contact: Vicki Thomson Group of Eight Chief Executive on +61 417 808 472