Federal Parliament kicked back into gear this week following Treasurer Jim Chalmers’ Economic Reform Roundtable, and the Albanese Government is moving ahead with announcements on productivity reforms.
Murray Watt announced that the long-promised reforms to the EPBC Act – originally earmarked for mid-2026 – will be fast-tracked to the end of this year. Legislation is now expected to be introduced during Parliament’s final sitting week in November. The timing isn’t coincidental. With the announcement being framed as an outcome of the Roundtable, reforms to the EPBC Act will address delays in housing, energy, and telecommunications approvals. In other words: less red tape, faster builds, and more investment – an attractive trifecta for a government hungry for productivity growth.
However, one politically sensitive detail remains unresolved – whether the proposed Environmental Protection Agency will function as a truly independent regulator or serve as an advisory body to the Minister. On the side of industry, the Western Australian Labor Premier travelled to Canberra to advocate for the Minister to retain ultimate control. It also remains to be seen whether the Coalition will work with the Government to pass these reforms. If not, the Government will need to work with the Greens, who are advocating for a climate trigger to be inserted into the Act.
Meanwhile, climate politics is once again testing the Coalition. The Albanese Government has deliberately allowed debate on Barnaby Joyce’s Repeal Net Zero Bill to proceed – a strategic wedge that the government will focus on. With net zero targets dominating Coalition party room discussions, the Coalition has come under renewed scrutiny, as internal divisions over emissions policy become increasingly public.
As Parliament rolls on, the Government is keen to turn consultation into concrete outcomes, and to put its opponents on the back foot over climate. Whether that momentum remains through to November remains to be seen, but the sprint to the year’s end has officially begun.
Top talking points
Repeal Net Zero Bill: Barnaby Joyce’s Private Members Bill was debated in the House of Representatives.
Defence Visit: Richard Marles travelled to the US to meet with Vice President JD Vance, Secretary of Defense Pete Hegseth, and Secretary of State Marco Rubio.
National Construction Code: Murray Watt and Clare O’Neil announced a pause to the National Construction Code.
Climate Change Authority: The Authority is expected[paywall] to recommend a 2035 emissions reduction target in the 65 to 75 per cent range.
Making headlines this week
Australia-Iran Developments
Federal Government Housing Push
Clare O’Neil’s announcement of an early rollout for the expanded 5 per cent deposit scheme – which starts from 1 October, instead of 2026 – has sparked mixed reactions. Proponents argue that it dramatically lowers the entry barrier for first-home buyers by eliminating lenders’ mortgage insurance and speeding up access to homeownership. Critics, however, caution that stimulating demand without parallel supply-side support could lead to further inflation of housing prices. The scheme forms part of the Government’s broader housing agenda.
Things to watch
1 September, the AFR will host the 2025 Property Summit.
1 September, the Federal Parliament will convene.
1 September, the ABS will release Building Approvals, Mineral and Petroleum Exploration, and Business Indicators data.
2 September, CEDA will host RBA Governor Michele Bullock.
3 September, AustralianSuper Chief Executive Paul Schroder will address the National Press Club.
3 September, RBA Governor Michele Bullock will deliver the Shann Memorial Lecture.
Inflation Rises, ASIC probe, and Treasury Warnings
The ABS reported a 2.8 per cent rise in inflation. While anticipated by RBA members, the rise was due in part to some households not receiving the extended Commonwealth Energy Bill Relief Fund and electricity price increases.
ASIC identified cases where offset accounts were not properly linked to mortgages, depriving customers of expected savings. While the scale of the banking errors is not known, ASIC has commenced surveillance to address non-compliance.
Jenny Wilkinson has cautioned that fiscal responsibility must be a priority in building a resilient economy. The Treasury Secretary noted that the tax system should raise sufficient revenue to account for budget deficits, which will require community trade-offs.
Nuisance Tariffs, Overseas Visits, Visitor Economy Strategy
The Federal Government announced it will abolish an additional 500 nuisance tariffs, in addition to the 457 scrapped in July last year. This follows consensus reached at the ERR, with the measure aiming to ease compliance burdens on businesses to support productivity growth.
Penny Wong and Richard Marles attended the Ninth Australia-Indonesia 2+2 Foreign and Defence Ministers’ Meeting. The meeting focused on deepening bilateral defence cooperation through increased education and training exchanges as well as complex joint exercises to enhance interoperability.
The New South Wales Government launched the NSW Visitor Economy Strategy 2035, setting a target to generate $91 billion. The strategy’s release follows a comprehensive review and consultation with more than 500 stakeholders and includes a commitment to develop a Statewide Aviation Strategy to support major calendar events.
Offshore Wind Developments and Emissions Reductions
Chris Bowen announced that three preliminary feasibility licences have been offered in the Bunbury Offshore Wind Zone in Western Australia. The three projects could deliver up to 4 GW of capacity if approved, creating more than 2,500 construction jobs.
The Federal Government is currently seeking feedback on guidance to help developers, researchers, scientists and other interested parties apply for Research and Demonstration licences in declared offshore zones. Consultation is open until 3 October.
Data for the year to March 2025 showed a 1.4 per cent fall in emissions. In the same period, recorded carbon dioxide emission levels were 28 per cent below 2005 levels. Renewable energy now accounts for 40 per cent of generation across Australia’s two main grids.
Infrastructure Decarbonisation, Telco Consumer Protection, and NSW Rezoning
Infrastructure Australia unveiled a national workforce strategy to address skilled worker shortages to decarbonise infrastructure projects. The strategy focuses on upskilling the existing workforce and attracting new talent to reach net zero by 2050.
The Federal Government introduced legislation that aims to increase penalties for telecommunications providers that breach consumer protection rules. The proposed legislation will empower ACMA to undertake enforcement action against non-compliant providers.
The New South Wales Government announced plans to complete the Woollahra train station in Sydney’s East and rezone surrounding areas to accommodate up to 10,000 new homes. This initiative aims to increase housing density and improve public transport infrastructure.
University National Code, Child Safety Laws, Medical Research Strategy Consultations
The Federal Government moved to introduce a new National Code, requiring universities to prevent and respond to gender-based violence. Universities must provide mandatory training, compliance measures, and penalties for non-compliance.
The Victorian Government introduced a bill to tighten child safety laws. The bill will introduce immediate WWCC suspensions, recognise interstate bans, and extend the time for officials to prosecute false applications.
A draft 10-year National Health and Medical Research Strategy has been released for consultation, aimed at strengthening Australia’s position in global medical innovation. It will guide national research priorities, with the final strategy to be delivered to the Government by the end of 2025.