Jo Lindgren (Queensland, Liberal Party) Share this | Link to this | Hansard source

My question is to the Leader of the Government in the Senate and Minister for Employment, Senator Abetz. Will the minister update the Senate on what the government is doing to support the excellent work of Australia's medical researchers?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

I thank Senator Lindgren for an excellent question, which follows up on an excellent first speech yesterday. The Medical Research Future Fund, established by legislation passed in this place today, is a landmark coalition government initiative that will withstand the test of time. Once it is fully established, it will double our annual investment in medical research. It will ultimately provide about 1,000 million dollars per year in additional funding for medical research and medical innovation. It represents the single largest investment in medical research ever made in Australia.

The fund will provide a resource to support Australian scientists and researchers as they continue their life-changing work. It will provide health and hope for not only our fellow Australians but for people right around the world in need of essential answers, cures and treatment and that is why we have initiated this significant advance for the medical research community. This is not a cash splash or a pink batt scheme or an announcement without follow-through. It is an investment for the future of our people. This is yet another example of the coalition's modern nation building, following on from our policies for Northern Australia, agriculture, shipbuilding and infrastructure and the list goes on.

The Medical Research Future Fund represents an economically responsible plan to provide significant and sustainable funding to support the essential work of Australian world renowned medical researchers and scientists. This is true capacity and nation building. It will deliver better quality of life for not only the people of Australia but for people around the world. (Time expired)

Jo Lindgren (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Will the minister inform the Senate how the Medical Research Future Fund will support the Australian medical research community and strengthen its international standing?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

I thank senator Lindgren for her supplementary question and can inform her and senators that the Medical Research Future Fund will support jobs in her home state of Queensland as, indeed, it will support jobs right across Australia. It will support the work of more than 20,000 medical research professionals that we already have in this country including the more than 3½ thousand such researchers in Queensland. It will also support the medicines industry that stands behind these researchers and employs nearly twice as many Australians. This fund will promote Australian job creation while also addressing the essential health needs of Australians and others around the world. This is truly a fund of which all Australians can be particularly proud.

Jo Lindgren (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a final supplementary question. Will the minister inform the Senate how the Medical Research Future Fund will benefit the Australian community?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

The Medical Research Future Fund will support vital research that will form the basis for the development of new medicines and technologies. This research can be exported to the world, providing benefits to all. It will boost the standing of our scientists and medical researchers in the international health research community, strengthening Australia's standing as one of the global leaders in the field. For a relatively small nation, Australia has a long and enviable reputation in medical research, with half of our 16 Nobel laureates having been awarded the prize in physiology or medicine. I am also pleased that one of these was a Tasmanian-born. And I am pleased that my state contributes to research through the Menzies Centre in Hobart and the Clifford Craig Medical Research Trust in Launceston.

This is nation building. It is capacity enhancing. It is a visionary initiative by the Abbott government which every Australian can and should celebrate. (Time expired)