The MRFF Action Group, which includes AusBiotech, has described its first meeting with new Health Minister Sussan Ley as "productive" and welcomed her strong support for the proposed $20 billion medical research endowment fund.
Ms Ley confirmed on Tuesday that the Government will look to find other savings to help fund the MRFF after announcing the scrapping of the controversial $5 Medicare GP co-payment.
All health-related savings announced in last year’s Budget were directed towards creation of the MRFF.
MRFF Action Group Chair Peter Scott said the attendees at the meeting were pleased to hear the MRFF reconfirmed as a key Federal Government policy despite the dropping of the GP co-payment.
“It was a positive and productive meeting with the Minister and it is apparent she understands the urgency among the health and medical research community to see the MRFF legislated.
“As we explained to Minister Ley, the MRFF will be a tremendous legacy for this Parliament to leave all Australians, one of which all sides of politics should be rightly proud,” Mr Scott said.
Mr Scott said the MRFF Action Group remained committed to seeing the MRFF realised at its full proposed $20 billion within the decade to ensure Australian health and medical research remained internationally competitive.
“The eventual goal of $20 billion for the MRFF sounds lofty, but as a perpetual endowment fund it means that only the earnings from the fund go to health and medical research, and that money, combined with National Health and Medical Research Council funding, only just brings us back into parity with the OECD average.
“We know from our meetings with MPs and Senators from all sides of politics that there is strong multi-party support for improved funding for health and medical research. It is time to make the MRFF a reality and legislate for it and we look forward to working with Minister Ley in making this happen.
“The nation-changing MRFF is the sort of forward-thinking policy we ask for from our politicians and we encourage all members and senators to support it, regardless of their political affiliations,” Mr Scott said.