The Albanese government plans to streamline environmental approvals for resource projects, abolish 500 nuisance tariffs, progress merger reform, and ease red tape for banks to boost productivity.
The Albanese government will streamline environmental approvals for resource projects , abolish 500 “nuisance” tariffs on imports from toothbrushes to tools, progress merger reform , and ease red tape for banks, in measures to boost flagging productivity. Treasurer Jim Chalmers said the changes to environmental approvals , designed to result in a “faster yes or no”, should advance the passage of changes to bring forward $2.4 billion in investment.
The Treasurer, who will address The Australian Financial Review Business Summit on Monday, will also herald the abolition of the 500 nuisance tariffs as a major step in reducing the burden on business by saving it $30 million a year in compliance costs. On the petroleum resource rent tax, the Treasurer will say that he has met Coalition demands for its support of the changes, including exempting current applications from approvals processes “so existing projects are assessed under a stable set of rules”
Albanese Government Environmental Approvals Resource Projects Tariffs Merger Reform Red Tape Banks Productivity
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