Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

The member is absolutely correct to describe the importance of scientific research to our country, to our community and to our long-term economic prosperity. In this vein, the government has acted very swiftly and over a period of time to increase funding to scientific research and innovation. This financial year it is almost $9 billion, an overall increase of 35 per cent since 2007. Also, in terms of health and medical research, that funding has increased substantially since 2007, from $614.5 million in 2006-07 to $760.5 million in 2012-13. Of course, there has also been very substantial investment through the Health and Hospitals Fund and a number of other areas as well.

What that effort does is reflect the importance that the government puts on scientific research. Of course, as we go through producing the Mid-Year Economic and Fiscal Outlook, we will do that in line with the Charter of Budget Honesty and we will do it in line with all past practice, and I do not intend to pre-empt any decisions of MYEFO.

See this speech in context