The prime minister and opposition leader have launched a forceful defence of Australia’s Pharmaceutical Benefits Scheme, declaring it is not for sale. America’s powerful drug lobby has thrown the PBS into the presidents’ sights, as he prepares for a new round of tariffs. It comes as Labor unveils a pledge to make medicines on the scheme cheaper.
Category
📺
TVTranscript
00:00Dispensing some pre-election sweeteners.
00:05I've got lollies here for some reason, here you go, don't say I've never given you any.
00:10The Prime Minister's giving Australians some hip pocket relief at the pharmacy.
00:14Today we will ensure that the price of medicines is cut even further.
00:21From January next year, the maximum price of a script for PBS listed medicines will
00:26fall from $31.60 to $25.
00:30The price for pensioners unchanged.
00:33The same price that it was in 2004, more than 20 years ago.
00:39The nearly $700 million plan will be accounted for in next week's budget and follows a succession
00:45of big spending health commitments, quickly matched by the Coalition.
00:50We'll continue to support those essential services that Australians rely on.
00:53But a threat is looming.
00:56As Donald Trump prepares to unleash his next round of sweeping tariffs, the PBS has been
01:01thrown into the spotlight.
01:03I will stand up and defend the PBS, which is the envy of the world, against any attempt
01:08to undermine its integrity, including by major pharmaceutical companies.
01:12The PBS subsidises the cost of more than 900 essential medicines.
01:17The government, as the main purchaser, uses its heft to negotiate the best price.
01:22American drug makers hate it and want the President to retaliate by slapping tariffs
01:28on Australia's $2 billion worth of medical exports to the US.
01:32It's not surprising that there is a push and some opposition to the PBS.
01:40But let me be very clear and explicit.
01:44The pharmaceutical benefits scheme is not for sale.
01:51Australia doesn't impose any tariffs on American goods, but with a protectionist President
01:56in the White House, US lobby groups across a range of sectors are venting long-standing
02:01grievances with what they see as Australia's non-tariff trade barriers.
02:07Such is the sacrosanct nature of the PBS that both leaders are vowing to protect it.
02:12But neither can predict what Donald Trump will do.
02:15I will seek to meet President Trump in Washington in the early days of the Dutton Coalition
02:19government.
02:20External, unexpected and often unwelcome events are likely to shape this campaign.
02:28The challenge will be to maintain focus and continue.