Kim Wilson, the Health Minister said policyholders will see an increase to the Standard Health Benefit rate
Premier and Finance Minister David Burt has declared the economy is no longer in recovery mode following four consecutive years of growth and a budget surplus.
Premier Burt joined by Health Minister Kim Wilson on Monday at the Cabinet Office outlined their budgetary priorities for fiscal year 2025/26.
A revised consolidated fund surplus of $19 million will allow increased funding to support the health care system, including the implementation of Universal Health Coverage, according to Premier Burt.
The government announced several reductions on customs duty rates impacting several sectors.
This budget includes a reduction in customs duty on all building materials to a flat rate of 10%, on the importation of motor vehicle parts and a reduction on fuel duty by another 20%, which the Premier said will save the average household $300 annually.
Minister Wilson said the health portfolio will receive $245.4 million including $177 million to fund MWI and the hospital, a 22% increase year on year.
She explained it was too early to say how much the standard health premium rate would now cost but touted the additional benefits to come.
