A precious investment: $20B future fund for medical research welcomed by ACTA

In a media release published today ACTA has applauded the Federal Government initiative to establish a $20B Medical Research Future Fund announced in the Budget handed down yesterday.

ACTA’s Chair, Professor John Zalcberg OAM said “This is a massive opportunity to improve research and development for the health system to the advantage of both patients and Governments who fund health care.”

The announcement represents the most significant boost to medical research in recent history and will effectively double Australia’s investment in medical research over the next decade.

ACTA looks forward to working with Government to develop a robust process to identify the research opportunities that will be most likely to lead to real and measurable improvements in the health of Australians. 

“This endowment will be financed by Australians who pay for clinical services. We must ensure that these additional resources are used to conduct research that directly improves the quality of clinical services provided to patients,” said Professor Steve Webb, a founding member and Director of ACTA.

ACTA has also welcomed the Government’s continued commitment to streamlining the conduct of clinical trials through the allocation of $9.9 M to the National Health and Medical Research Council to drive greater efficiencies in approval processes for trials.

“There are still major improvements to be made in the way clinical trials are coordinated and supported within the health system. It is tremendously encouraging to see that this remains a priority for the Government” Professor Zalcberg said.