Vital investment milestone reached for Australian health and medical research!

15 July 2020

As the national peak alliance for health hand medical research, Research Australia is delighted that a capital injection of $3.2 billion will be made into the Medical Research Future Fund.

‘This is great news for Australia’s health and medical research and innovation sector and importantly, the millions of Australians who benefit from the great research’, said Research Australia CEO and Managing Director Nadia Levin.

‘It is a strong signal to the sector that the MRFF will achieve its objective of $20 billion in capital next week, with the earnings to fund new research and innovation’.

“The role of health and medical research in all of our lives is immense and as this pandemic has demonstrated, we rely heavily on it to ensure our continued wellbeing and access to the best possible care.

Despite all the challenging times we are currently facing it is very gratifying that this tremendous milestone has been reached, in line with the Government’s commitment and bipartisan support.  It offers all Australians hope for a better quality of life in the future, supported by a world class, research enabled health system.

Substantial investment in previous years has meant we can call on Australia’s incredible research today. We must ensure that we maintain this critical capability in the years ahead.

Research Australia’s annual opinion poll Australia Speaks, shows strong public support for greater investment in health and medical research and strong support for the Medical Research Future Fund.

The Medical Research Future Fund was enacted in 2015 with an initial capital injection of $1 billion. Since then, further capital has been invested each financial year, enabling the MRFF to achieve the target of $20 billion in capital with the final instalment of $3.2 billion being made next Tuesday, 21 July.

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