Catholic Health warns on investment

Catholic Health Australia chief has welcomed an announcement by Federal Treasurer Peter Costello that $2.5 billion is to be invested in a new Health and Medical Investment Fund but says that the move is "long overdue" in some areas.

He also warned that current capital investments should not be undermined.

$2.5 billion will be invested in a new fund, which is made possible by the larger than anticipated Budget surplus that was revealed yesterday. It will pay for new medical facilities, including surgical theatres and advanced medical equipment.

Mr Sullivan said: "This investment fund approach has merit in that accessing capital is difficult for the not for profit sector and is particularly the case in regional settings."

He added that although more detail will be needed, the concept at least signals a more concerted approach by the Commonwealth to assist in establishing health services across the country.

Media Release, Catholic Health Australia, 21/8/07)

LINKS (not necessarily endorsed by Church Resources)
Catholic Health Australia
Treasurer's website

22 Aug 2007