Guy Barnett (Tasmania, Liberal Party) Share this | Hansard source

Do not worry—there is plenty more. In terms of ministerial discretion, I want to note that there are criteria against which applications for increases will be considered. The Labor Party knows the process and has indicated an increase of 40 per cent. My advice in terms of the increase is that it is closer to 35 per cent over the five years. That increase, of course, reflects the cost of health care and the cost of an increase in that health care over that period of time.

In terms of the first point that Senator McLucas put forward in her motion—that the government is divided over the sale of Medibank Private—I have made it quite clear that that is not true. It is not the case. There is unanimity in that regard. There is total support. In terms of the method of the sale of Medibank Private, yes, there has been some discussion about whether it would be via the stock market, via a trade sale or via other means. I have expressed the view that, if at all possible, a float would be preferred, where you could leave the entity together and it could remain as one. If the process does proceed along those lines, I hope that there will be some arrangements, some special entitlement, for the members of Medibank Private to encourage them to be part owners of that entity via the share sale.

In terms of the funds, I want to make it clear that the government has made an announcement already with respect to the money that is currently an asset in Medibank Private. When Medibank Private is sold, many of the funds will be used for medical research. I want to congratulate the Minister for Health and Ageing, Tony Abbott, and the Prime Minister on making that decision. In terms of medical research, it is very important, and I appreciate that fact. I understand, according to the budget papers, that $500 million will go to the National Health and Medical Research Council and a further $170 million will go to other research arrangements. In that regard, I acknowledge the $30-odd million plus that has already been announced with respect to type 1 diabetes research in this country. Medical research is very important. I appreciate the leadership of Mr Howard and Mr Abbott, particularly in this area.