One year after the federal economic roundtable convened, the administration is assessing whether the ideas generated have translated into measurable policy shifts.
The roundtable set a new tone for collaboration.
Capital‑gains and trust reforms top the agenda
On the budget‑focused day of the meeting, a consensus emerged around easing the intergenerational burden of the current levy structure.
Jim Chalmers highlighted a package that swaps the historic 50 per cent discount on capital gains for an inflation‑linked reduction, limits negative gearing to newly built homes and introduces a floor of 30 per cent on earnings from capital gains and trusts.
Critics warned of a potential plunge in property values, yet the primary effect is projected to be a narrowing of the fiscal shortfall.
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Productivity‑boosting measures beyond the levy
The reform roundtable also spawned an updated National Competition Policy, which earmarks funds for states to streamline duplicated occupational licences. By allowing specialised workers to operate across borders, the plan aims to cut administrative drag.
Environmental protection statutes have been tweaked to accelerate clean‑energy project approvals, a move that could shave months off development timelines. In the housing arena, the government pledged to remove paywalls from Australian Standards used in building codes.
Productivity, defined as the efficiency with which labour and capital generate output, hinges on countless decisions made by firms and workers. While no single policy can command a surge, each of these steps is intended to reduce friction.
It’s worth noting that the roundtable opened the floor to ideas from business leaders, academics and community groups, creating a rare venue for open deliberation. That openness itself may be as valuable as any specific reform, because it signals a willingness to revisit entrenched practices.
Remaining items on the table include generous superannuation concessions, the transition to road‑user charging as fuel excise revenues fade, and a full overhaul of the goods‑and‑services levy distribution among states. The heated debate over housing‑related duties has also eclipsed quieter measures aimed at boosting productivity.
