MEDIA ALERT - MONIQUE RYAN AND KATE CHANEY 9:30AM 28 OCTOBER MURAL HALL

 

Who: Dr Monique Ryan MP; Kate Chaney MP; Ms Rebekah Cassidy, Chief Executive Officer, AusBiotech; Associate Professor Julien Freitag, Chief Executive Officer and Chief Medical Officer, Magellan Stem Cells Pty Limited. 

 

What: Crossbench calls for scrutiny of Research and Development (R&D) tax incentive changes which put our medical research sector at risk. 

 

Independent Federal Members for Kooyong and Curtin will shine a light on the Albanese Government's proposed changes to the Research and Development Tax Incentive (RDTI), which will restrict access to refundable tax offsets for medical research and biotechnology companies less than 15 years old. 

 

It routinely takes more than 15 years to develop life-changing health and research discoveries through rigorous clinical trials, regulatory approvals, and commercialisation.  

 

Parliamentarians will be joined by medical research leaders alarmed that the changes will create uncertainty for Australian companies making long-range decisions about where they should undertake clinical development programs.  

There is significant fear in the sector that, as a result of the government's RDTI changes, innovative Australian companies will move offshore to countries with more friendly R&D policy settings.  

 

Where: Mural Hall, Parliament House  

 

When: 9:30am, Wednesday 28 October  

 

Rosie Leon-Thomas: 0455 657 546 | Dr Monique Ryan MP 

Cade Smith: 0408 997 003 | Kate Chaney MP