ANTHONY ALBANESE, PRIME MINISTER: Good morning, this morning we've heard from Greg, whose son has type one diabetes, about the difference that the reduction in pharmaceutical costs will make to his life and to his family, by reducing the cost from $42.50 down to $30. This will make a real difference to families who are doing it tough.

For the first time in its 75-year history, the maximum cost of general scripts under the Pharmaceutical Benefits Scheme (PBS) will fall.

Under a Bill tabled by the Australian Government today, from 1 January 2023 millions of Australians will pay almost 30 per cent less for PBS scripts, with the maximum general co-payment dropping from $42.50 to $30.

This means that someone taking one medication a month could save as much as $150 every year, or for two or three medications as much as $300-$450 a year.

Australia and Timor-Leste today signed a reciprocal Defence Cooperation Agreement (DCA).

The DCA is a status of forces agreement that sets out the reciprocal protections, responsibilities and privileges each country will grant the military personnel of the other in its territory.

The DCA was signed by Defence Ministers following a meeting between Prime Minister the Hon Anthony Albanese MP and President Dr Jose Ramos-Horta of Timor-Leste.

STEVE GRAHAM, HOST: I do believe, Tanya, our Prime Minister just text Karl Stefanovic from the Today Show and said, ‘You can just wait there a minute, mate,’ because I need to talk to Tanya and Steve first.

TANYA WILKS, HOST: I think he did too. Morning PM.

ANTHONY ALBANESE, PRIME MINISTER: G’day. What could be more important than Triple M Newcastle?

WILKS: Hey, happy Father's Day ahead of Sunday. What are you up to?

NATALIE BARR, HOST: Prime Minister, good morning. Let's start with that Jobs Summit. It’s a big story of the week. A billion dollars for training, that’s fantastic. It takes a while to train people. Businesses need workers now as you know. What can you do to get workers out there?

MICHAEL ROWLAND, HOST: Another big day in Canberra, Day 2 of the Jobs Summit is about to get underway. We are joined from there now by the Prime Minister, Anthony Albanese. PM, good morning to you.

ANTHONY ALBANESE, PRIME MINISTER: G’day, Michael. Good to be with you. We kicked off at 8:00. I've ducked out to speak to you.

ROWLAND: Oh, appreciate it even more, there you go. Skilled migration very much on the agenda today. Has consensus emerged on increasing the skilled migration intake from 160,000 a year to 200,000?

The Jobs and Skills Summit has brought Australians together to agree on immediate actions to help build a stronger economy and a stronger Australia.

Government, employers, unions and the broader community will take forward initiatives to help build a bigger, better trained and more productive workforce, boost real wages and living standards, and create more opportunities for more Australians.

The Albanese Government will ensure full employment, productivity growth and equal opportunities for women are central objectives of its economic and fiscal policy.

Age and Veterans Pensioners will be able to earn an additional $4000 over this financial year without losing any of their pension due to the Albanese Labor Government providing a one-off income credit designed to give older Australians the option to work and keep more of their money.

Following the successful Jobs and Skills Summit in Canberra, an immediate $4000 income credit will be added to the income banks of Age Pensioners from December to be used this financial year.

Friends, I begin by acknowledging the traditional owners of the land on which we are meeting and pay my respect to elders past and present, and thank the Aboriginal and Torres Strait Islander people who are here with us today who have contributed and made this forum just so much better through your input.

I do want to now return the favour and ask everyone to thank Jim Chalmers.

ANTHONY ALBANESE, PRIME MINISTER: In July 2021 at the National Press Club I committed to having what has occurred over the last two days, the Jobs and Skills Summit. As we worked towards organising this two day event, we couldn't have hoped for the outcomes that have been achieved over the last two days.