Health Research Investment Delivering Back to the Economy
The Minister for Indigenous Health, Warren Snowdon, has welcomed research showing Government investment in a leading Northern Territory health research school is delivering a threefold return to the economy.
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22 March 2012
The Minister for Indigenous Health, Warren Snowdon, has welcomed research showing Government investment in a leading Northern Territory health research school is delivering a threefold return to the economy.
The study by Deloitte Access Economics shows that every dollar in funding provided to the Menzies School of Health Research resulted in a $3.12 return to the Australian Economy.
Mr Snowdon said the Australian Government is very committed to investing in health and medical research, alongside the commitment to improving Aboriginal and Torres Strait Islander health.
“This study shows the investment the Government makes in the Menzies School of Health Research is contributing towards improving Aboriginal and Torres Strait Islander health and also returning to the national economy.”
“It is hard to put a price on improving outcomes for Aboriginal and Torres Strait Islander people, it is impossible to say what closing the gap in child mortality, or life expectancy is worth, especially to Aboriginal and Torres Strait Islander people,” Mr Snowdon said.
“But it is heartening to see that the money the Government invests in projects such as Screening for Rheumatic Heart Disease in Indigenous Children and the Healthy for Life Program is being returned, through direct and indirect economic and health benefits.”
The Deloitte report shows that between 2002 and 2010 the Menzies School of Health Research contributed $393 million towards the Australian economy, $87 million of that went directly to the Northern Territory.
“Since 2007 the Government has significantly increased its investment in health research, lifting the contribution to the National Health and Medical Research Council from $644.5 million in 2006-07 to $715.5 million in 2010-11, a $71.5 million dollar increase.”
“I commend Menzies for its commitment to disadvantaged groups, including Aboriginal and Torres Strait Islanders, tackling the health problems facing tens of thousands of Australians and for contributing to the overall economy,” Mr Snowdon said.
For more information, contact the minister’s office on 02 6277 7820
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