10 Things That Came From the Treasurer’s Economic Roundtable

There was broad support for an EV road user charge and freezing the building code, which can often create additional costs to constructing new homes.

Australia's Treasurer Jim Chalmers attends a press conference in Canberra, Australia on July 8, 2025. David Gray/AFP via Getty Images

Treasurer Jim Chalmers has wrapped a three-day economic reform roundtable and managed to narrow down the contentious debate to 10 areas of consensus.

“These 10 areas give us a platform for action,” he told reporters, while acknowledging that specific solutions needed to be worked through.

“There was 29 hours of discussion, in the end. There was, by our count, something like 327 different contributions made over the course of those 3 days.”

Abolishing ‘Nuisance’ Tariffs

One of the most tangible outcomes was Chalmers’ commitment to abolish hundreds of nuisance tariffs, in concert with Trade Minister Don Farrell.

Chalmers confirmed the government would build on last year’s decision to remove roughly 500 “nuisance tariffs” on everyday items such as toothbrushes, women’s health products and fridges—changes the government said would ease compliance costs and save more than $120 million over four years.

“I’ve agreed with the relevant groups representing the room. We'll do that in a consultative way, but I would like to knock off hundreds more nuisance tariffs,” Chalmers said.

Broad Support for EV Road User Charge

One contentious area—Road User Charging (RUC)—found broad support in the room, but no final model was settled on.

RUC is a distance-based fee that is charged for drivers, particularly electric vehicles (EVs) and heavy vehicles, to fund road maintenance and infrastructure

“There was more than the usual amount of consensus in a conceptual way around road user charging, a lot of reform appetite in that area,” Chalmers said.

A Hyundai KONA Electric charges at a EV charge station in Sydney, Australia, on January 19, 2021. Brendon Thorne/Getty Images

States and territories are preparing an options paper to be discussed when Chalmers meets state treasurers on Sept. 5.

The treasurer said governments will need to work through “timing and sequencing,” whether via staged steps or a swifter model.

Principles on Future Tax Reform Agreed to, Actual Policy Unclear

On tax, participants converged on three areas to guide future policy: a system that deals with intergenerational inequality; an affordable way to incentivise business investment; and a simpler revenue base to fund welfare services for the aging population.

There was no definite timeline proposed for when these changes come together.

A stock photo of a money box with an Australian one hundred dollar note printed on it in Sydney, Australia on Dec. 21, 2024. AAP Image/Bianca De Marchi

However, prior to the conference Prime Minister Anthony Albanese confirmed that Labor will not make any changes to the tax system in this term.

“The only tax policy that we’re implementing is the one that we took to the election,” he told reporters in Melbourne last week.

Chalmers also signalled no appetite for a drawn-out public review.

“What they wanted to do was to give us the guidance that they will help us in those three areas … without necessarily opening up another 18 months of very public tax review when a lot of the issues are pretty well known.”

Freeze on Further Changes to Building Code

The government will seek to reduce complexity and red tape in the National Construction Code (NCC), which can often add to the cost and time to building a new home.

Housing Minister Clare O’Neil has confirmed a freeze on further NCC changes to help cut compliance costs and speed up builds—mirroring an approach the Coalition proposed at the last election.

A man works on a construction site building new apartments in Melbourne, Australia on April 4, 2023. William West/AFP via Getty Images

Last week, O’Neil told the Australian Financial Review that industry consultations drove the shift in thinking.

Opposition housing spokesman Andrew Bragg welcomed the move, “Don’t forget, they actually changed the NCC in their first term. If they’re going to change direction, then we’re happy to support that.”

Push to Streamline Environmental Red Tape

Chalmers said Environment Minister Murray Watt has been asked to accelerate reforms to the Environment Protection and Biodiversity Conservation (EPBC) Act, with an emphasis on stronger standards, faster approvals, and more transparency.

He added that tens of thousands of environmental approvals for new homes were stuck.

Watt will work with O’Neil to knock off as much of that backlog as possible, with further announcements expected “before long.”

Deregulation Bill This Year

Finance Minister Katie Gallagher will introduce a regulatory reform bill later this year, as both her and the treasurer ask the major regulators to look at how they can deregulate, and cut compliance costs.

The exterior of the Australian Government Taxation Office in Sydney, Australia, on May 28, 2012. AAP Image/April Fonti

“We have literally hundreds of ideas from the regulators, which is a very good thing,” he said.

The Council of Financial Regulators will coordinate the financial-sector component and “elevate the ambition” of the proposals.

An AI Game Plan

Artificial intelligence was another central theme, with Chalmers describing “a very heartening discussion” that brought participants closer on contentious issues such as copyright in AI training, an area Communications Minister Michelle Rowland is working on.

“Not a unanimous view yet, but a little bit closer together. And I see that as a very good thing in terms of the overarching legislative question,” he said.

The government will conduct a gap analysis to determine whether a standalone AI Act is needed or whether existing laws can be updated.

Chalmers also referenced work on areas like a national AI capability plan, rules on building data centres that serve the national interest, and the resourcing challenges behind them.

A photo of the Global Switch data centre in Ultimo of Sydney, Australia taken on May 9, 2025. Courtesy of Kevin Lee

Improving Government Services

Beyond AI, Chalmers said the government will examine modernising procurement and making better use of data to improve services.

He noted there is already a review of the Data Act completed aimed at improving services without adding complexity for households or businesses.

The Investor ‘Front Door’

To make Australia a more attractive destination for capital, the government will launch an “investor front door” pilot next month.

The initiative is designed to simplify and speed up how investors interact with government.

One of the last areas was to train and build a skilled workforce.

What Did the Opposition Say?

Shadow Treasurer Ted O’Brien did not seem impressed by the roundtable and instead issued a statement accusing the government of waste and poor fiscal stewardship.

O’Brien argued the current government benefited from the highest terms of trade in Australia’s history, delivering a $241 billion boost to the budget bottom line over four years.

“Had the Treasurer simply sat on his hands and allowed this windfall to pay down debt, it would have fallen by $241 billion. Yet a comparison of the 2022 and 2025 [Pre-election Economic and Financial Outlook or PEFOs] shows debt is only $147 billion lower than originally forecast. So roughly $100 billion has gone missing. Where did it go?”