Anne Ruston (SA, Liberal Party) Share this | Link to this | Hansard source

My question is to the Assistant Minister for Health, Senator Nash. Can the minister update the Senate on the historic proposal for a world-leading new medical research fund announced in the federal budget last night?

Opposition Senators:

Opposition senators interjecting—

Government Senators:

Government senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Order! The senator is entitled to be heard in silence and I need to hear the question. Senator Ruston, would you repeat the last part of the question.

Anne Ruston (SA, Liberal Party) Share this | Link to this | Hansard source

I was just asking the minister if she could update the Senate on the historic announcement last night in the budget for a world-leading new medical research fund.

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

I thank the senator for her question and her very sincere interest, particularly in the area of regional health. The Australian government is establishing a $20 billion future fund for medical research. The Medical Research Future Fund will be the single largest investment in medical research ever made in Australia and one of the biggest medical endowment funds in the world. The fund will be established on 1 January 2015. The capital-protected Medical Research Future Fund will reinvest all the savings in a fiscally responsible—

Honourable Senators:

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Nash, resume your seat. On both sides! The interjections across the chamber do not assist hearing the minister give the answer. It is disorderly.

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

The capital-protected Medical Research Future Fund will reinvest all of the savings from the fiscally responsible changes to the health budget until the fund reaches $20 billion, which is expected by 2020. The fund will be managed by the Future Fund Board of Guardians, which have a proven track record in managing an investment portfolio on behalf of the government and maximising returns over the long term. The Medical Research Future Fund—

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Nash, resume your seat. On both sides! Debating this, if you wish, is after question time!

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

The Medical Research Future Fund will enable vital medical research that may lead to the discovery of new medicines and technologies which would be used for prevention, treatment and cure.

Medical research has a key role in making our health system sustainable for decades to come. This government is committed to investing in innovation, infrastructure and programs which have long-term economic benefits that come from new medicines and technologies. This government is committed to long-term policies—

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Nash, resume your seat. The debate across the chamber is for post question time not during question time. The minister is entitled to be heard in silence from both sides. When there is silence we will proceed.

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

The government is committed to long-term policies that strengthen our health system—unlike the previous Labor government, who tried to cut medical research by $400 million in 2011. This government is building a strong and prosperous economy and a sustainable health system. We are building a health system for future generations.

Anne Ruston (SA, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Can the minister further advise whether this exciting new medical research fund has the community's support?

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

It is sad to report but, according to the Australian Institute of Health and Welfare report Cancer in Australia: in brief 2012, people living in remote and very remote areas of Australia had higher mortality rates of cervical cancer, cancer in multiple sites, breast cancer in females and lung cancer than those living in major cities. These results are not good enough and are another example of previous Labor government neglect of rural and regional health and strategic planning to close the rural and metropolitan divide.

The Medical Research Future Fund will help realise the huge opportunities for research to boost illness prevention and to promote early intervention and is strongly supported by communities. Investment in medical research will bring us closer to finding a cure for cancer. It may be that an Australian finds the cure. With more investment in medical research, we will see medical technological development that will lead to better health outcomes for not only rural Australians but all Australians.

Anne Ruston (SA, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. Could the minister elaborate on her comments in the previous answer about how this medical research fund is going to improve health outcomes particularly in rural and regional Australia?

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

The Australian government is committed to improving health outcomes for people living in rural and remote areas through the implementation of the fund.

Honourable Senators:

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Nash, resume your seat. When there is silence on both sides we will proceed.

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

Every dollar invested in health and medical research returns, on average, $2.17 back into the health system. The Australian Institute of Health and Welfare report Cancer in Australia: in brief 2012 states that in the five years from 2006 to 2010 people living in the lower socioeconomic areas had higher mortality rates from cervical cancer—

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Nash, resume your seat. When there is silence we will proceed.

Fiona Nash (NSW, National Party, Assistant Minister for Health) Share this | Link to this | Hansard source

lung cancer and cancer of unknown primary site than those living in the highest socioeconomic areas. The development of new medicines will lead to increasing life expectancy and quality of life for rural and regional patients. The new Medical Research Future Fund is investing in our future and is one of the best long-term investments in health we can make. The Medical Research Future Fund will enable the government to work towards closing the gap between the cities and rural and regional Australia.