Pharmacy Daily | A hard budget looms

When the Treasurer sits down after delivering his Budget speech tonight, we will know how much of the tough rhetoric about the Government’s fiscal intentions is real and how much was spin. Unfortunately, all the portents are that the Budget will indeed be one of the toughest in memory, with significant cuts to programs. Like all in our sector, the Guild will be watching closely to see if our message of the Pharmaceutical Benefits Scheme has been heeded. That message is that the PBS is contained and sustainable and delivering higher than expected savings to Government through price disclosure. Indeed, the latest iteration of the price-cutting policy, so-called Simplified Price Disclosure, won’t even have an impact until October this year. So further cuts imposed through this Budget would be extremely unwelcome and unfair, given the damaging impact already in store for pharmacy. As to the wider health system, the Government has indicated that there will be cuts to agencies, and almost certainly a co-payment imposed on bulk-billed GP services. We’ll also know tonight if the Government is going to accept the recommendation of the National Commission of Audit to lift the general patient co-payment for PBS medicines.

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