12 June 2012

Record Investment in the Future of Medical Research

NSW is back on track in medical research, with today’s State budget including a major increase in funding which will help develop NSW into a Centre of Excellence in medical research, the Minister for Health and Minister for Medical Research, Jillian Skinner, said today.

The NSW Government’s annual investment in health and medical research now exceeds $200 million.

The 2012-13 Budget includes funding of more than $45 million for the Office for Medical Research, including:

• $5 million for the Medical Research Support Program (bringing the state’s total spend on the program to $37 million each year) to support independent medical research institutes;
• $5 million for a new Medical Devices Seeding fund. This fund will help support the development of medical devices; and
• $3.5 million to further support the implementation of the Health and Medical Research Strategic Review.

Mrs Skinner said this funding sets the foundation for significant advancements in medical research, and in turn, improvements in patient care.

“Medical research is a cornerstone of the health system, which is why the NSW Government is spending a record amount in this vital area,” Minister Skinner said.

“This Budget delivers infrastructure spending to health and medical research facilities to continue undertaking their lifesaving research. We are investing $55 million in partnership with the Commonwealth for the Westmead Millennium Institute,” she said

“NSW is positioned to become a leader in translational research through our investment in cancer research. This year’s budget also includes $28 million from the NSW Cancer Institute for cancer research.

“Our health system is driven by a strong and dynamic research industry – the NSW Government will ensure the benefits of this research are shared right across the community to deliver even better clinical practice and outcomes for patients.”