Posted By Global Banking and Finance Review
Posted on February 22, 2025
SYDNEY (Reuters) - Australia's Labor government on Saturday promised an extra A$8.5 billion ($5.4 billion) for the country's universal healthcare system if re-elected at a national election due by May, amid sagging popularity for Prime Minister Anthony Albanese.
Centre-left Labor traditionally sees its protection of Australia's cherished Medicare universal healthcare scheme as a key differentiator between it and the conservative Liberal-National opposition, which bills itself as superior on economic management and border protection.
"A re-elected Albanese Labor government will make the single largest investment in Medicare since its creation over 40 years ago," the government said in a statement late on Saturday.
The funding boost would enable 18 million more subsidised general practitioner visits each year, hundreds of nursing scholarships, and thousands more training places for doctors, according to the statement.
Medicare guarantees all Australians and some overseas visitors access to a wide range of health and hospital services at low or no cost. It was established by Labor in 1984.
The funding pledge comes after a widely-watched poll this week showed most Australian voters wanted the Labor government out of office. In the poll, Albanese's approval rating hit its lowest point since he was elected to office in May 2022.
The Albanese-led government is struggling to lift support despite a slew of measures aimed at pleasing families and businesses grappling with high living costs and boosting jobs.
($1 = 1.5736 Australian dollars)
(Reporting by Sam McKeith in Sydney; Editing by Tom Hogue)