Budget 2021-22: Continued Investment in Medical Research
The George Institute for Global Health notes that over $6.7 billion will be invested in medical research over the next four years following the Australian Budget announced on Tuesday evening.
Executive Director, Australia, Professor Bruce Neal said the budget will mean Australian researchers can continue to deliver world-class medical research. “We appreciate continued government investment in medical research that allows us at The George Institute to help reduce the burden of non-communicable diseases and injury,” he said.
“Despite the lower than expected returns in the Medical Research Future Fund (MRFF), we appreciate that over $627 million will be spent in the coming year, along with $863 million from the National Health and Medical Research Council (NHMRC). Along with delivering world-class medical research, investment in our sector is good for the COVID-19 economic recovery as every dollar invested in medical research, returns $3.90 to the community,” Professor Neal said.
In addition, the Budget allocates a further $6 million towards encouraging more clinical trials in Australia. Professor Neal said removing clinical trial barriers was a key focus for The George Institute through the www.JoinUs.org.au national research register.
“The challenge of patient recruitment is repeatedly identified as a primary barrier to doing research in this country. We look forward to exploring opportunities to support this initiative with the Government,” Professor Neal said.