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Topic:Government and Politics
Health Minister Mark Butler says the government is lobbying the White House to not impose tariffs on Australian pharmaceuticals as he guarantees there will be no change to the PBS.
Follow all the updates in our live blog.
By Tom Lowrey
The threat of imminent gas shortfalls on very cold days appears to have eased, at least for the short term.
Last year the Australian Energy Market Operator was sounding the alarm about a shortage of gas in south-eastern Australia (NSW, Victoria, Tasmania and SA) on 'peak days' as soon as this year.
'Peak days' for gas tend to be when the weather is extremely cold, or when other power sources like coal and renewables aren't delivering as much as planned.
But this year's update on gas supplies from AEMO says that issue isn't looking quite as troubling.
Demand for gas both from households and industrial users is dropping, particularly as households buy more electric appliances.
The NSW Government's decision to extend the life of the Eraring coal-fired power plant has also helped, by reducing likely demands on gas as a power source over the next few years.
But AEMO is still sounding some big warnings — saying that threat for peak day supplies is still very real from winter 2028.
On top of that, there are broader shortfalls in supply on the east coast from 2029, and it is calling for urgent investment in new gas supplies.
Some experts have been critical of AEMO's gas forecasts in the past, arguing it has a habit of over-estimating demand, and under-estimating the speed at which Australians are transitioning away from the fuel.
By Courtney Gould
American drug makers have written to a senior US trade official complaining of the Pharmaceutical Benefits Scheme (PBS)"damaging pricing policies", pressing US President Donald Trump to target Australia when he imposes sweeping "reciprocal tariffs" on trading partners next month.
Speaking with ABC's AM Health Minister Mark Butler says it's unclear whether the Trump administration listen and take action on the pharmaceutical giants complaints.
He says Australia's ambassador to the US Kevin Rudd and other representatives are lobbying the White House against imposing additional tariffs.
"We're very clear what the position of the big pharma industry over in the US is," he says.
"They've made that clear through general media as well as industry media.
"I'm not sure we've heard anything in the administration yet, but … we are prepared to make it very clear there is no change we will countenance to our PBS."
By Courtney Gould
Labor's pledge to slash the cost of prescription medicine to $25 if re-elected may have bipartisan support but doesn't mean the government will fast-track plans to legislate the changes.
Health Minister Mark Butler told ABC's AM that even if the government did move next week, the "usual time" to put the changes in place would be on January 1.
"We need software arrangements and the like. I mean, the important thing is we're delivering cheaper medicines this year. We've frozen the price of medicines for this year," he says.
The $690 million election promise was quickly matched by the Coalition last night, and comes as American drug makers wrote to a senior US trade official complaining of "damaging pricing policies" in Australia.
By Evelyn Manfield
The Coalition is demanding the prime minister travel to the United States to ensure Australian businesses aren't hurt by reciprocal US tariffs that could hit Australian medicine exports.
A major US pharmaceutical body has called on the Trump administration to hit Australia with new tariffs.
They argue the Australian Pharmaceutical Benefits Scheme (PBS) — which subsidises the cost of medicines for Australians — devalues American products.
Both Labor and the Coalition have ruled out touching the PBS in any trade negotiations.
But Shadow Health Minister Anne Ruston says the possible new tariffs are "deeply concerning" and will become a test of the Prime Minister Anthony Albanese's leadership.
"He must travel to the United States as a matter of urgency for a face-to-face meeting with Donald Trump to ensure Australian businesses are not adversely impacted," she said in a statement.
"Failure to do so would be another sign of weak leadership from the prime minister."
By Evelyn Manfield
An Australian healthcare consumer group says US pharmaceutical companies are "lucky" to be able to provide medicines to Australians – and have accused them of "corporate bullying".
American medical giants have written to the US government arguing Australia's Pharmaceutical Benefits Scheme undervalues American products.
The letter is an effort to encourage the Trump administration to hit back against the scheme with tariffs, for instance on Australia's pharmaceutical exports to the US.
The chief executive of the Consumers Health Forum of Australia, Elizabeth Deveny, said Australia must stand firm against the proposal.
"The US industry's demand for punitive tariffs on Australia is something akin to corporate bullying," she says.
"It's an attempt to force Australians to accept a US style system where medicine prices are dictated by profits, not by patient needs."
She said Australia is a valuable market and companies want their medicines sold here.
"American and other pharmaceutical companies are lucky to be able to provide their products to our citizens, so our citizens can be healthy," she says.
By Stephanie Dalzell
The majority of medication on the Pharmaceutical Benefits Scheme (PBS) would be about $7 cheaper if Labor is returned to power at the looming federal election, saving patients about $200 million a year.
As American drug makers wrote to a senior US trade official complaining of "damaging pricing policies" in Australia, the federal government has unveiled a promise to slash the cost of most PBS medications to a maximum cost of $25, down from $31.60.
The change will cost about $690 million and has already been accounted for in Tuesday's federal budget.
Prime Minister Anthony Albanese said a re-elected Labor government would pass legislation to enact the changes, which would come into effect from January 2026.
“Cheaper medicines is another way we are helping with the cost of living, while putting downward pressure on inflation – our number one focus," he said.
Four out of five PBS medications will cost $25 under the plan, with Australians expected to save $786 million over four years.
Read more at the link below 👇
By Courtney Gould
Hiya pals.
It's Thursday. So you know what that means – another politics live blog! Courtney Gould from the ABC's Parliament House team here to guide you through the day.
It's another mixed bag today, so let's just dive right in.
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