Rudd pledges $250m medical research fund
LABOR will create a $250 million medical research fund if it is re-elected on September 7.
Prime Minister Kevin Rudd and Health Minister Tanya Plibersek were in Brisbane to announce details of plans for a Medical Research Innovation Fund, which would assist researchers and entrepreneurs successfully market new medical treatments and health technologies.
The government would kick in $125 million for the fund, with the private sector to make up the other half.
In addition, Mr Rudd promised to implement $70 million of investments and reforms as part of Labor's initial response to the 2013 McKeon Review of Health and Medical Research.
This would include $47.5 million in funding for 19 centres for research excellence to encourage research in fields identified as national priorities, as well as establishing four new centres to focus on indigenous health, national clinical trials, international health and genomics.
The fund would be paid for through government equity injections over the forward estimates, which would be achieved by deferring some funding for the Nation Building 2 program.