The Government is funding more than just medical research, with the development of the Medical Research Future Fund. In the Federal Budget 2014 funding has been allocated to scientific and university research, in order to continue Australia’s “proud history in producing ground-breaking research”.
The budget has allocated a total of $161.3 million to scientific research, which will be broken down into $65.7 million to operate and maintain a new blue ocean research vessel, $31.6 million for the operation and maintenance of the OPAL nuclear research reactor, as well as an additional $25.9 million to fund the permanent and safe disposal of waste from the reactor, and other smaller programs.
Another $11 billion will be invested in university research over the next four years, to help Australia attract and retain some of the world’s top researchers. The Abbott Government will be also be honouring its election promise to allocate $26 million to accelerate research in dementia.