Until around 15 years ago, the forecast for spending included nominal annual growth rates of 5-10 per cent, but it was not real. It was not linked to anything. It could not be used to offset new listings because of Budget rules, which remain in place today, and it just made the program a target. It reflects a long-term, enduring dynamic. Nothing will change in the absence of reforming the system's basic architecture.
They used to forecast growth, it was not real and couldn't be used, and it made the program a target for cuts
May 21, 2026 Latest NewsBioPharmaComment
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