MSB 3.06% $1.01 mesoblast limited

Ann: Appendix 4C - quarterly, page-129

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    Are you aware that the Secretaries (formerly called Director- Generals) of NSW Government Departments earn salaries in the region of $500K pa. and they are supported by a team of senior executive staff who are being paid between $200-$300K pa which in total can come up to a fair bit and considering the responsibilities assigned to them, they have a real good deal. How does one justify such salaries especially as this is derived from what tax payers pay and do you think this is good business sense. I was looking at the 2016/17 expenditure of NSW Health of $20.84 B and salaries component is $12B. The amount spent on Research grants was about $120M. Hence the research and development of cures is left to the likes of MSB and other bio-tech companies to raise its own capital which is a uphill task. The very fact that MSB has reached this stage is an achievement and I am of the view that the Government should probably form some sort of arrangements with private sector companies to fund research which will benefit the nation. They are currently doing it for other projects termed are Public/Private Partnerships which reduces their cash requirements and has long term benefits. Governments should not have tunnel vision and try and be innovative and enterprising.
 
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