Jim Chalmers 2022

Commonwealth, state and territory treasurers have today signed a landmark agreement that will deliver a 10‑year reform of National Competition Policy (NCP).

We are working together to put downward pressure on prices, boost competition, improve the quality and safety of products and services, and making it fairer to do business.

Today I met with my state and territory counterparts in Canberra to progress substantial economic reforms that will benefit all Australians.

Together we advanced our productivity agenda, including a landmark agreement on national competition policy and made progress on our commitment to deliver 1.2 million homes across the country.

ANTHONY ALBANESE:

JIM CHALMERS: Let’s get cracking. Can I acknowledge Country and can I also say to treasurers and your teams from right around Australia, states and territories, welcome to Canberra. Thank you for this opportunity to engage with you. It’s a special meeting in a few ways but we have 3 new colleagues here and one new colleague who’s an apology.

The Government has today passed the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 through the Senate.

These reforms are the largest shakeup of Australia’s merger settings in half a century and a big part of a new wave of competition policy which is all about making our economy more dynamic and productive.

The Albanese Government has this week passed 11 Treasury bills through the Senate to help build a stronger economy, stronger budget, and more modern and effective economic institutions.

This is a very big week of progress, delivery and getting things done. This is one of the most significant weeks for economic reform in years.

Today we have locked in reforms to modernise the Reserve Bank.

We’re ensuring Australia’s central bank remains world class with a monetary policy framework fit to meet our current and future economic challenges.

These laws will reinforce the Reserve Bank’s independence, clarify its mandate, and modernise its structures.

Today we’ve passed legislation to deliver new tax breaks to support the construction of around 80,000 new homes to rent.

We’re working across Government and with states and territories to help build more homes, making it easier for Australians to rent and buy.

This will encourage investment and construction in the build‑to‑rent sector.

The Albanese Labor Government has today passed the Superannuation Objective Bill 2023 to strengthen Australia’s retirement income system.

For the very first time we now have a legislated objective for superannuation that gives the industry, future governments and Australian retirees confidence in the system.

The Albanese Labor Government’s Future Made in Australia legislation has today passed Parliament, a major step forward in making Australia indispensable to the global net zero transformation.