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Albanese government must follow recommendation from poverty panel, backbenchers say; higher inflation to put more pressure on Hecs debt. Follow live

Morning and welcome to our rolling news coverage. I’m Martin Farrer and I’ll be bringing you the top stories from overnight before Natasha May comes along to take you through the day.

Our lead story this morning is that the health minister, Mark Butler, will today outline changes to prescription costs that will slash out-of-pocket costs for GP visits and medicines. Under the budget measure, patients can expect savings of up to $180 a year for each medicine, while concessions card holders will be $43.80 better off for each medicine. The money will come from the government having to pay fewer subsidies to pharmacists.

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