Jenny McAllister (NSW, Australian Labor Party, Minister for the National Disability Insurance Scheme) Share this | Hansard source

In 2023, we delivered the largest cut to the cost of medicines in the history of the PBS. The maximum cost for a script fell to $30—that was from $42.50, but we want to deliver even more cheaper medicines, and that is why the government will make sure that a prescription on the Pharmaceutical Benefits Scheme costs no more than $25. This is a 20 per cent cut in the maximum cost of medicines under the PBS. It's saving Australians more than $200 million a year. Pensioners and concession card holders will have the cost of their PBS medicines frozen at $7.70 until 2030. The last time medicines were this cheap was in 2004 and—make no mistake—this is what Labor governments do.