Tracey Roberts (Pearce, Australian Labor Party) Share this | Hansard source

Today I rise to talk to you about a promise the Albanese Labor government made to the Australian people—a promise to make medicines cheaper—and how we are delivering on that commitment. Labor went to the election pledging to bring down the cost of medicines for Australians. I am proud to say that we are fulfilling that promise. As of 30 June 2024, over five million Australians have saved more than $456 million on their prescriptions since January 2023. This isn't just policy on paper; it's real, tangible relief for households facing rising living costs. This is the kind of support that only a Labor government can deliver.

Since July 2022 the Albanese Labor government has implemented crucial reforms to make medicines more affordable for everyone. In July 2022 we lowered the PBS safety net threshold. This means that people with high medical needs reach the point of getting medicines free or at significantly reduced cost faster than before. In October 2022 we reduced the price of 2,000 brands of medicine, and just three months later, in January 2023, we achieved the largest price reduction in the 75-year history of the Pharmaceutical Benefits Scheme. Under our government, no-one pays more than $31.60 for a PBS-listed medicine, while pensioners and concession holders pay no more than $7.70. We know that every dollar counts for Australian families, and this is making a real difference.

In September 2023 we introduced 60-day prescriptions for 100 medicines, which was expanded to 184 medicines by March 2024. This reform allows Australians with stable ongoing health conditions to collect two months worth of medicines with a single prescription. This saves them time, cuts down on trips to the pharmacy and, importantly, saves money. To give you an idea of the impact, from September 2023 to June 2024 in Pearce alone, there have been over 52,000 60-day scripts filled, easing the burden on thousands of patients. And we are not stopping. In September 2024 we will roll out the third phase of the 60-day prescription reform, which will expand to include nearly 300 medicines. Additionally, in our most recent budget we froze the price of PBS medicines at $31.60 for general patients until the end of 2025 and $7.70 for concession patients until the end of 2029. This is another way we're delivering essential cost-of-living relief while ensuring all Australians have access to the medicines they need to stay healthy.

I also want to touch on another key part of Labor's commitment to affordable health care. The PBS is a vital lifeline for millions of Australians, and Labor is committed to making it stronger. Since coming to government, we've approved funding for 227 new and amended listings on the PBS. These listings include life-saving and life-changing medicines like Trikafta. Trikafta is a revolutionary drug for people with cystic fibrosis, and we have expanded its PBS listing, making it available to children aged two to five. Cystic fibrosis is a devastating disease, and providing access to Trikafta earlier in life can make all the difference. This expansion is expected to benefit an additional 330 children each year. Without subsidy, this drug would cost families over $250,000 per year, but, on the PBS, they will pay no more than $31.60, or just $7.70 if they hold a concession card. This is the kind of meaningful impact the Albanese Labor government is delivering.

It's important to reflect on the opposition's approach. The opposition has consistently opposed every measure we've introduced to make medicines cheaper, and they have a track record of making health care more expensive. By the time those opposite left office, the cost of a PBS script had risen to $42.50. But we reversed that trend. We cut the maximum cost of a PBS script from $42.50 down to $30. This is the largest reduction in the cost of medicines in the 75-year history of the PBS. In Pearce alone, from January 2023 to June 2024, there were almost 207,000 reduced co-payment scripts filled, saving patients nearly $2.5 million. These savings matter. They mean less financial strain for families and better access to the care that they need.

Our goal is simple: to make sure every Australian can afford the medicines that they need without worrying about the cost. These reforms aren't just numbers; they are about people—people who need access to affordable health care and life-saving medications.

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