Part of Govt surplus to go on health funding
The Treasurer, Peter Costello, has announced that part of the $3.7 billion budget surplus will go on health spending.
A total of $2.5 billion is earmarked for a new Health and Medical Investment Fund, with the interest to be spent on new buildings and hi-tech equipment in direct deals with state and private hospitals.
State governments will be left out of the management or spending of the money which could be up to $300 million a year.
Medical experts said the money should help cut waiting lists and improve treatments, with those in need of surgical or radiation treatment or those waiting for joint replacements to be among those to benefit.
But the lack of detail in the announcement has left others guessing about what may qualify for funding.
