2017 Budget — Research spending
The 2017 Australian Government Budget has committed ongoing funding to encouraging the sustainable growth of Australian industries by developing policies and delivering programmes which provide lasting economic benefits for the nation. Of interest to the dental industry and research organisations in the sector, including the tertiary education sector, are initiatives that include those set out below.
Research Infrastructure Investment Plan —
The Government will develop a Research Infrastructure Investment Plan (the Plan), which will assess future research infrastructure projects against emerging Government priorities. The Plan will be informed by the 2016 National Research Infrastructure Roadmap and an inventory of existing national research infrastructure. The Plan will be developed by the Department of Education and Training and the Department of Industry, Innovation and Science in consultation with the Commonwealth Science Council, Innovation and Science Australia and key stakeholders.
Medical Research Future Fund —
The Medical Research Future Fund (MRFF) is a key funding vehicle with the budget setting out investments up to $1.4 billion in its first five years. The first disbursements of the MRFF have been announced, with $20 million to boost preventative health research and research translation, $10 million for the Australian Preventative Partnership Centre, $33 million to build research excellence and leadership, $12.9 million for breakthrough research investments, and $5 million for new targeted clinical trial activity for adolescents and young adults with cancer.
Investments from the MRFF will be consistent with the Australian Medical Research and Innovation Priorities 2016‑18, which have been identified by the Australian Medical Research Advisory Board.
Advanced Manufacturing Fund —
The Government will provide $101.5 million over five years from 2016‑17 to establish an Advanced Manufacturing Fund (the Fund) to promote research and capital development for high technology manufacturing businesses. The Fund will support establishing the Advanced Manufacturing Fund, to assist businesses establishing or expanding high value manufacturing operations in South Australia and Victoria along with an expansion of the Cooperative Research Centres program to fund additional Cooperative Research Centre Projects targeting advanced manufacturing.
Of interest to the dental product manufactures is the establishment of an Advanced Manufacturing Early Stage Research Fund to support small scale and pilot research projects in advanced manufacturing;
This update was issued on 9 May 2017 and please note that changes in circumstances after the publication of material or information may impact upon its accuracy (including passage of the supporting legislation through the parliament) and also compliance obligations. It is recommended that expert advice be sought before taking action based upon the information presented here.
Budget Briefing —
Stakeholders from across the dental industry are encouraged to attend the 2017 ADIA Australian Government Budget Briefing that will be held on 24 May 2017 in Sydney. It will be presented by Bill Evans, the Chief Economist at Westpac. [Register Today]
Member Engagement —
ADIA provides leadership, strategy, advocacy and support. Our members set our agenda, fund our activities and directly benefit from the results. With respect to the Association's work to ensure that the initiatives within the 2016 Australian Government budget support the dental industry, the team in the ADIA national office receive advice and guidance from members serving on the ADIA-BAC Business Affairs Committee.
Further Information —
To keep up to date with how ADIA is working to ensure that the Australian Government budget supports the dental industry, subscribe to the Twitter feed @AusDental or follow us on Facebook at www.facebook.com/dental.industry. Alternatively, you can contact the Association via email at firstname.lastname@example.org or by telephone on 1300 943 094.
This information is available for your use under a Creative Commons Attribution 3.0 Australia licence, with the exception of the ADIA logo, other images and where otherwise stated.
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