Politics
Cheaper medicines and HECS cuts prioritised by Albanese
Albanese government to push for $25 PBS medicines and HECS cuts amid tax debate in parliament’s second week
Albanese government to push for $25 PBS medicines and HECS cuts amid tax debate in parliament’s second week
– Albanese government plans to reduce PBS medicine prices to $25, saving users $200 million annually.
– Business Council proposes 18.5% R&D tax credit to boost economic productivity amidst upcoming tax reform discussions.
The $25 price point, effective next year, is expected to reduce user costs by $200 million annually.
The previous $7.70 cost for pension and concession card holders will remain unchanged until 2030.
Both the government and opposition seem aligned on these healthcare reforms, with Labor also facing questions regarding future policies at an upcoming economic roundtable.
Policy Proposals
The Business Council has proposed enhanced tax credits for research and development, with a flat-rate incentive suggested at 18.5%.
The council advocates that increased R&D spending is pivotal for economic productivity and innovation.
Furthermore, discussions at the roundtable are expected to cover various tax reforms, including reconsideration of company tax to foster entrepreneurship. The Coalition, meanwhile, is anticipated to oppose new tax hikes while grappled with internal debates on climate targets.
