Lucy Wicks (Robertson, Liberal Party) Share this | Link to this | Hansard source

I rise to commend the House for the successful passing of legislation last week to establish the groundbreaking $20 billion Medical Research Future Fund, the largest of its kind in the world. This fund is potentially a life-saving, life-changing and life-sustaining piece of legislation. It will also strengthen Australia's standing as one of the global leaders in the field of medical research. The fund will receive an initial contribution of $1 billion from the uncommitted balance of the Health and Hospitals Fund and will eventually provide around $1 billion every year in additional funding for medical research and medical innovation. The remaining contributions will come from budget savings in health until the balance reaches $20 billion, with the capital of the fund preserved in perpetuity. I am advised that the first $10 million in additional medical research funding will be distributed this financial year, and over $400 million will go out over the next four years. That is in addition to our existing budget for direct medical research of around $3.4 billion over the next four years. This will deliver not only finances but also stability to the medical research sector.

The impact of this particular piece of legislation on the people of the Central Coast cannot be overstated. I had a look at 10 of the best research projects that were announced last month—projects that will have real impact for people living in my electorate of Robertson. I looked at Professor Mark Cook's research. He is from the University of Melbourne, at St Vincent's Hospital. Professor Cook and his team have developed a device that can detect seizures as they are happening and rapidly respond with a counter-stimulation to stop the seizure in its tracks. They hope to eventually create a portable device that can be implanted in people with epilepsy to help prevent them from having seizures in the first place.

At the University of Melbourne, Associate Professor Phillip Darcy has been undertaking research that has helped close a loophole that cancer cells have exploited. By modifying white blood cells, he and his team have found a way to train the immune system to identify and attack cancer cells while leaving healthy cells unharmed. This approach is now being tested in clinical trials. It is an outstanding potential breakthrough.

Landmark research like these two examples can truly unlock breakthroughs in preventative care, potential cures and better treatments for Australians and people living on the Central Coast so they can live longer and healthier lives. But it has also enabled a fantastic new vision for the Central Coast to be a base for world-class health care and medical education and research, potentially located on the grounds of Gosford Hospital. I will say again how proud I am of the proposal outlined by the University of Newcastle and its partners to develop this plan—a globally connected, fully integrated Central Coast health and medical research institute and a co-located Central Coast medical school. I have said many times that this particular proposal has potential to transform the Central Coast, and I am very proud of this legislation that has been passed.