Australia’s medical research fund is sitting on billions of dollars that were intended to be invested in world-leading health innovations, with new costings revealing the government could double its funding to researchers each year without affecting the $24.5 billion base amount.

Parliamentary Budget Office costings commissioned by independent MP Monique Ryan show the Medical Research Future Fund could lift its annual disbursements from $650 million to as much as $1.4 billion without depleting its current levels over the next 10 years.

As the Trump administration’s cuts to scientific and medical organisations disrupts research funding around the world , prominent Australian science and medical associations are urging the federal government to make better use of the money.

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