Australian Government has provided $200 million over seven years to independent medical research

The Australian Government has provided an extra $200 million over seven years to independent medical research institutes to help fund overhead costs to ensure they are well equipped to focus on their vital work.

Federal Health Minister, Tony Abbott, announced the funding today as part of the Government’s 2004-2005 Federal Budget commitment to backing Australia’s innovative research ability.

“This funding translates to up to 20 cents in the dollar to be provided to independent medical research institutes which have won NHMRC research grants from 2005,” said Mr Abbott.

“This significant investment will help these institutes cover costs such as providing libraries, computing centres, animal houses and salaries for support staff.

“This is to ensure the appropriate infrastructure is in place to enable vital research progress in a more productive and supportive environment with access to the best available resources.”

Minister Abbott said the additional $200 million was a response to findings of the recent report of the Investment Review of Health and Medical Research.

“This latest funding takes total Howard Government funding for health and medical research in 2004-2005 to more than $420 million.

“Australia has an excellent track record in medical research. As a Government, we are proud to continue our investment.”