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SVI welcomes 2017-18 Victorian State Budget

Posted: 03rd May 2017

SVI and the rest of Victoria’s independent medical research sector welcomes and celebrates the Victorian Government’s budget announcement yesterday, introducing the first substantial increase to the state’s independent medical research institutes in over a decade.

Victorian Treasurer Minister Pallas announced further financial support of $8 million in the first year, growing annually to drive Victoria’s independent medical research institutes, organisations that create high paying local jobs, advancing technologies and developing the translation pathway, contributing to the discoveries that prevent, diagnose and treat disease.

President of the Victorian Chapter of the Association of Australian Medical Research Institutes and director of the Burnet Institute, Professor Brendan Crabb AC thanked the Premier and Minister Hennessy for working closely with the sector over the past year on this wonderful announcement.

“Ultimately, this will result in better health outcomes for Victorians, and will be felt around the world,” Professor Crabb AC said.

Victoria is the national leader in medical research and proudly boasts 14 worldleading independent medical research institutes.

“Our organisations provide about 4000 jobs, produce more than $500 million in annual revenue, and create $1 billion in annual economic impact. We are collectively globally renowned in key disease areas such as cancer, neurological diseases, infectious diseases, ageing, hearing and vision loss,” Professor Crabb AC said.

“Today’s announcement from the Government is a vital step which will ensure Victoria stays ahead of other states and can take full advantage of the Federal Government’s $20 billion Medical Research Future Fund.

“We look forward to continuing to work with the Victorian Government to ensure Victoria remains Australia’s leader for medical research.”

You can read more in the 2017-18 Budget Papers.