What we know so far about plans to make Australia richer, happier and more productive

It’s far from the first time a government has attempted to tackle the country’s stagnating productivity problem, but this week Prime Minister Anthony Albanese and Treasurer Jim Chalmers will give it another crack.

Over three days, beginning on Tuesday, they will hold an economic reform roundtable at Parliament House, aiming to reach consensus on the best path forward on key issues, including tax and regulation.

About 45 people are expected to attend, including experts and leaders from business, unions and politics, and there will be nearly 900 submissions. Achieving broad agreement will be challenging.

Here’s everything we know about what’s likely, and unlikely, to come from the roundtable.

Housing policies expected to get the go-ahead

Ideas to reduce red tape, especially in the housing sector, are expected to be quickly picked up.

Economists and industry groups have identified the country’s broken housing market as a significant barrier to productivity, and ministers have already been considering measures such as cutting duplicate state and federal housing approval processes and lowering standards for developments similar to others that have already been accepted.

State governments, represented by NSW Treasurer Daniel Mookhey, have also backed moves to speed up construction of new homes and expedite major infrastructure projects.

Leaked Treasury advice reported by the ABC also revealed a range of ideas recommended to the cabinet, including a pause to changes to the National Construction Code.

Environmental law reform on the cards

The Environment Protection and Biodiversity Conservation (EPBC) Act has proven difficult to amend, as former environment minister Tanya Plibersek discovered last term when mining firms and the WA state government baulked at proposed powers for an environmental regulator.

Her predecessor, now-Opposition Leader Sussan Ley, also spoke about the need to reform but failed to make changes.

But Murray Watt, who has taken over the environment portfolio, is again attempting reform.

It’s a move recommended by Treasury in its leaked advice, which suggested the use of artificial intelligence to cut environmental red tape and reforms to clear a backlog of 30,000 housing approvals currently being assessed under the EPBC.

Skills recognition could get easier

Another barrier to housing construction – and improved productivity – is the fact that tradespeople currently require different qualifications and licenses in different jurisdictions.

“We can look at areas like how we can go about making sure that people who are tradies on one side of the border don’t need a special permit to be on another side of the border,” Business Council of Australia chief executive Bran Black said on Monday.

Streamlining these requirements has been raised as an easy reform, as the government is unlikely to come up against much opposition if it streamlines the process.

The conditions that must be met

Chalmers has asked for ideas, and packages of ideas, that are “budget-neutral or better”, meaning they should not eat into the budget bottom line. So any tax reduction would have to be accompanied by a reduction in government spending.

While representatives from various organisations and groups will have the opportunity to put forward their interests, Chalmers has also said any reform suggestions taken up by the government will need to enjoy broad consensus.

For any changes to be passed through parliament, the government will then need to secure the support of the Greens. The minor party has indicated it will support progressive policies.

Things we won’t see

The government has dampened expectations for “instant policy gratification”, saying the roundtable will instead be the start of a three-year drive to boost productivity.

While Chalmers and Albanese have insisted they will not rule anything in or out before the talks, they have effectively drawn a line through substantial tax reform, especially for GST and negative gearing.

This has led to some people labelling the roundtable as a “talkfest” unlikely to achieve any substantial reform.

However, the treasurer has said ideas out of the roundtable will influence the government’s entire second-term agenda, finding their ways into the next three budgets, but hosed down expectations for a suite of fully costed policies to be released on Thursday night when the roundtable wraps up.

Further to this, Reserve Bank governor Michele Bullock will provide scene-setting remarks on the first day of the roundtable, while about 24 academics, think tank heads, and various business leaders will attend for select parts of the roundtable.

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