ACT campaigns to close the Pharmac funding gap
The ACT Party in New Zealand is proposing a policy to increase Pharmac's budget to 12 percent of the total health spend by 2033. Leader David Seymour argues this will align New Zealand with OECD standards and allow for the funding of more essential medicines.
Why it matters
This policy proposal highlights ongoing debates regarding healthcare funding efficiency and the accessibility of pharmaceuticals in New Zealand.
The ACT Party is proposing to increase the proportion of the health budget spent on Pharmac by one percent a year, to bring New Zealand in line with Australia and closer to the OECD average.
The policy would see Pharmac's budget rise to 12 percent of the total health spend by 2033.
Currently, New Zealand spends 4.9 percent of the health budget on medicines, well below the OECD average of 13.3 percent.
ACT leader David Seymour, who currently holds ministerial responsibility for Pharmac, told RNZ he had spent the last three years in government trying to increase Pharmac's budget.
"Pharmac is punished for being tougher on its costs than anyone else in the healthcare system. We need to give them a break."
The uplift, he said, would enable Pharmac to fund more medicines on its Options for Investment list.
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