Budget announces new investments in health and medical research
The 2018–19 Budget includes a $1.3 billion Health and Medical Industry Growth plan to drive a new era of better health care while fuelling jobs and growth in new firms and industries through research.
The Australian Government has announced it will invest $1.3 billion in a Health and Medical Industry Growth Plan to drive a new era of better health care while fuelling jobs and growth in new firms and industries through research. The Growth Plan will cement Australia’s place as a world leader in health and medical research and technology development while injecting an estimated $18 billion into the Australian economy.
Research investments include:
- $500 million over 10 years for a Genomics Health Futures Mission.
- $240 million over four years for a Frontier Health and Medical Research program.
- $248 million over five years for an expanded Rare Cancers, Rare Diseases and Unmet Need clinical trials program, new international clinical trial collaborations and commencement of work on a national clinical trials front door.
- $125 million over nine years for a Targeted translation Research Accelerator program in chronic conditions focused on diabetes and heart research.
- $94 million over four years for industry research collaborations and biomedical and medical technology programs.
The government’s investments in medical research will save lives, improve lives and support the next generation of Australian jobs and world leading industries.
Visit the Budget section of Health's website for more information on the government’s latest investments in health and medical research.