Labor Promises $25 Cap on PBS Medicines if Re-Elected

The Albanese government commits $690 million in the federal budget to further reduce medicine costs, pressuring the Coalition to respond ahead of the election.

• Labor pledges to lower the maximum co-payment for PBS-listed medicines from $31.60 to $25, effective January 2026 if re-elected.
• The policy aims to save Australians a combined $786 million over four years, benefiting middle-income households most.
• Pensioners and concession cardholders will continue to pay $7.70 per script, with prices frozen until 2030.
• The $690 million measure builds on Labor's 2023 reduction of the PBS co-payment from $42.50 to $30.
• The Coalition faces mounting pressure to match Labor’s policy as healthcare and cost-of-living issues dominate the election agenda.

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