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Chalmers vows faster gas, mining project approvals

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Treasurer Jim Chalmers has vowed to establish faster approvals process for gas and mining projects.

“We agree that there is a need to update Australia’s offshore regulatory gas arrangements and broader environmental approval processes,” he says.

Chalmers tells The Australian Financial Review Business Summit that the government will use better technology to identify the environmental risks of different projects to streamline the approval process.

“We will clarify consultation requirements for offshore oil and gas storage regulatory approvals, making consultation more targeted and more effective, and will provide better upfront guidance on when approvals are required.

“Our changes are designed to be better for the environment, better for business, and better for our economy.”

47 mins ago – 9.03AM

Chalmers outlines ‘biggest tariff reform in two decades’

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Jim Chalmers is outlining the Albanese government’s move to abolish hundreds of tariffs to improve the regulatory approvals process.

He says Labor will permanently abolish “almost 500 nuisance tariffs” on a vast array of imports from July 1 this year.

“We will eliminate important tariffs on hundreds of imported goods, including hand tools, toothbrushes and fridges and dishwashers, and sanitary products,” he tells The Australian Financial Review Business Summit.

“This is the biggest unilateral tariff reform in at least two decades. It will cut compliance costs, reduce red tape, make it easier to do business and boost productivity.”

He says many of these tariffs come at a cost to businesses and government.

“Australian workers and businesses have said they’re not protected by these tariffs, but they still have to navigate the red tape involved and bear compliance costs,” he says.

“Removing these tariffs will streamline around $8.5 billion worth of annual trade and will save businesses more than $30 million in compliance costs each year.”

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