Weekly Wrap Up, August 22 2025
In the weeks leading up to the roundtable, Prime Minister Anthony Albanese played down expectations for sweeping changes, stressing that no new tax policies would be introduced before the next election. Meanwhile, Treasurer Jim Chalmers expressed cautious optimism, framing the three-day event as a crucial foundation for future budgets and Australia’s economic future. However, by late last week, the two appeared to find common ground, presenting a more united front heading into the discussions.
Day one opened with both Albanese and Chalmers setting the tone for the Roundtable and acknowledging that decisions taken during the Roundtable would shape the next three budgets and possible the next term of government. Reserve Bank Governor Michele Bullock highlighted Australia’s sluggish productivity growth, framing it as the key challenge ahead before discussions ensued. The conversation quickly expanded to practical issues: building trade resilience amid global uncertainty; fast-tracking recognition of migrant skills to fill workforce gaps; and harnessing AI with a strong emphasis on upskilling workers rather than just automation.
On day two, attendees discussed options to balance environmental regulation with economic development, zeroing in on the lengthy delays caused by slow environmental approvals, with housing supply and clean energy projects caught in regulations. AI’s rapid expansion sparked calls for smart, worker-centred oversight to prevent disruption while boosting productivity. Payroll tax and skills shortages ignited lively debate, yet there was growing agreement on the need to modernise laws that stifle investment and drag out approvals – especially the much-maligned EPBC Act.
Day thee saw the roundtable switch focus to intergenerational equity and structural budget challenges. Attendees engaged in discussion on Australia’s tax settings, where concerns over growing youth inequality, capital gains tax concessions, and negative gearing dominated the day. Outside of the Roundtable, Opposition Leader Sussan Ley criticised the absence of discussion on innovation while renewing calls for fiscal sustainability.
And so, as the dust settles, the chatter continues: was this three day summit a meaningful pivot – or just a political wardrobe change? The question remains whether the Albanese Government has the appetite to follow through with anything substantive – and whether Chalmers and Albanese remain truly aligned when the hard decisions arrive.
Top talking points
Economic Reform Roundtable: Treasurer Jim Chalmers convened the ERR, discussing economic resilience, productivity, budget sustainability and tax reform.
National Press Club Addresses: Productivity Commission Chair Danielle Wood and Minister for Health and the NDIS Mark Butler addressed the National Press Club.
Polling Updates: Labor leads[paywall] the Coalition 56 to 44 per cent on a two-party-preferred basis.
Clean Energy Appointment: Former Queensland Deputy Premier Jackie Trad will lead the Clean Energy Council.
Age Assurance Trial: The trial has faced backlash over privacy concerns, leaks and resignations amid claims of poor transparency and industry exclusion.
Tasmania Update: Tasmanian Premier Jeremy Rockliff retained power following a no-confidence motion’s defeat.
Making headlines this week
EPBC Act Reform
Australia and Israel Developments
Tensions between Australia and Israel escalated after Israeli Prime Minister Benjamin Netanyahu labelled Anthony Albanese a “weak leader” following Australia’s decision to recognise a Palestinian state, continued criticism of Israel’s actions in Gaza, and the government’s decision to cancel the visa of far-right politician Simcha Rothman who was due to travel to Australia for a speaking tour. In a letter to Netanyahu, the Executive Council of Australian Jewry labelled[PDF] his comments “inflammatory and provocative” and demonstrated a “lack of understanding of social and political conditions in Australia”.
Things to watch
25 August, The Federal Parliament will convene following the ERR.
26 August, Minister for Skills and Training Andrew Giles will address the National Press Club.
26 August, CIS will host Chris Minns to discuss the New South Wales Government’s housing reforms.
27 August, Chair of Universities Australia Professor Carolyn Evans will address the National Press Club.
27 August, the ABS will release monthly CPI and construction data.
27 August, Thomson Reuters will host the Australian Regulatory Summit.
28 August, CEDA will host a panel to discuss New South Wales’ housing supply challenges.
28 August, the ABS will release new capital expenditure data.
ASIC Developments and ABS Data
ASIC reported 7,561 instances of misconduct, with nearly 80 per cent of reports being filed in the financial services and retail investor category. ASIC has commenced 132 investigations, filed 23 new civil proceedings, and initiated 10 criminal litigations.
Additionally, ASIC called for life insurers to strengthen product design, sales practices and complaint handling, and indicated it will commence investigations into concerning practices. This follows a review of direct sales practices.
Wages and salaries paid by employers reached $103.9 billion in June, an increase of 5.9 per cent from 2024, with health and social services accounting for the largest share of wages
Overseas Engagement and Tourism Re-appointments
Penny Wong met with her counterparts in both Indonesia and Vietnam to discuss bilateral cooperation, with a focus on trade, climate change, and critical technology partnerships.
Richard Marles attended the 5th Malaysia-Australia High Level Committee on Defence Cooperation and the 2nd Australia-Philippines Defence Ministers’ Meeting. Australia and Malaysia agreed to strengthen the long-running maritime surveillance operation.
Don Farrell reappointed Penny Fowler as Chair of the Board of Tourism Australia for a two-year term. Fowler will continue to work to attract more international travellers to Australia.
Coal Royalty Deferment, Climate Change Appointment, and Plantation Projects
The Queensland Government confirmed that Bravus will commit $50 million to expand the Carmichael coal mine, including works on a village, water dam, rail hub, and associated infrastructure. As part of the agreement, the government has also granted a royalty deferment.
Will Nankervis has been appointed as Australia’s Ambassador for Climate Change, with a focus on the Pacific and Southeast Asia. In this role, he will lead national climate diplomacy and advance Australia’s COP31 bid.
Julie Collins announced 15 million new forestry plantation projects across New South Wales, Western Australia, Tasmania, Victoria and the Northern Territory. The projects will receive funding as part of the Federal Government’s Future Made in Australia agenda.
Olympics Funding, Sydney Metro and Queensland Updates
The Intergovernmental Funding Agreement supporting critical infrastructure ahead of the Brisbane 2032 Olympics has been finalised. The Federal Government committed $3.435 billion towards the $7.1 billion Games Venue Infrastructure Program in partnership with the Queensland Government.
In New South Wales, more than two-thirds of the Southwest Metro project has been completed, with the line on track to open in 2026. The announcement follows the first anniversary of the Chatswood to Sydenham extension.
The Queensland Government allocated $25 million for Livingstone Shire to construct 1,500 homes and $41.8 million across Western Queensland to build 360 homes through the $2 billion Residential Activation Fund. Elsewhere, $100 million was allocated through the Country Roads Connect Program, aiming to upgrade unsealed roads across 22 regional councils to support regional connectivity.
NDIS, University Sector and Child Safety Reforms
Mark Butler outlined proposed reforms to the NDIS, including the $2 billion “Thriving Kids” program, aiming to support children with mild to moderate autism and developmental delays. Scheduled to roll out from 1 July 2026, the changes aim to ensure the long-term fiscal sustainability of the scheme.
Jason Clare announced that the Albanese Government will strengthen the powers of the university regulator TEQSA, committing to a consultation paper to explore reforms aimed at protecting students, addressing systemic risks and streamlining regulation across the higher education sector.
The Victorian Government is investing $42 million in a child safety overhaul following abuse allegations in childcare centres. All recommendations from the Rapid Child Safety Review will be implemented, with Premier Jacinta Allan committing to immediate legislative changes to suspend clearances where needed.
In case you missed it...
Is reform afoot?