Lehrmann’s solicitor slams police after court loss

Lehrmann’s solicitor slams police after court loss

Former Liberal staffer Bruce Lehrmann has suffered a legal defeat in the first of multiple court battles aimed at halting a rape trial against him.

Lehrmann’s Sydney-based solicitor Zali Burrows on Friday took aim at Queensland Police after withdrawing a bid to prove officers had illegally recorded two conversations between Lehrmann and his previous legal team.

Ms Burrows had also been seeking a court injunction to prevent Queensland Police from recording any future conversations with any of Lehrmann’s legal representatives.

Lehrmann, 30, appeared by phone on Friday when the matter was heard at Toowoomba District Court.

Judge Benedict Power dismissed the application after the claims were withdrawn by Ms Burrows, who conceded her entire case would depend on proving officers had broken the law in Queensland.

Outside court, Ms Burrows told reporters she would never again speak to a Queensland Police officer on the phone.

“All I can say is that it’s another world in the state of Queensland,” she said.

Bruce Lehrmann (file)
Bruce Lehrmann phoned into the court for the latest hearing of his case. (Jono Searle/AAP PHOTOS)

Ms Burrows’ application was part of a wider bid to seek a permanent stay on proceedings which, if granted, would halt a pending trial against Lehrmann on two counts of rape.

Lehrmann, who is on bail, is accused of raping a woman twice during the morning of October 10, 2021 after they met at a strip club the previous night in Toowoomba, west of Brisbane.

The former ministerial staffer to Liberal senator Linda Reynolds was charged in January 2023 and is yet to formally enter a plea.

But his former solicitor had previously told a magistrate he intended to contest the charges.

Zali Burrows, lawyer for Bruce Lehrmann
Zali Burrows was told she needed to prove what an investigating detective did was unlawful. (Darren England/AAP PHOTOS)

Ms Burrows on Friday agreed with Judge Power’s contention that the officers might have followed proper procedure for keeping accurate notes during the early stages of an investigation.

“You need to establish as a matter of law that what (the investigating detective) did was unlawful,” Judge Power said.

Ms Burrows said police would have an “unfair tactical advantage” if they had a recording of any conversation where a lawyer accidentally disclosed legally confidential material.

Judge Power said that would not be the fault of police and any of Lehrmann’s solicitors could make a separate claim if there was confidential material.

Crown prosecutor Caroline Marco was not required to argue in court against Ms Burrows except to agree with Judge Power’s proposed order to dismiss.

Crown prosecutor Caroline Marco
Caroline Marco said the stay application could only be heard once other applications were finalised. (Darren England/AAP PHOTOS)

She told Judge Power the application to halt the trial could only be heard once all other applications were dealt with.

Judge Power told the lawyers they needed to be in a position by July 31 to nominate a date for when the trial might begin.

Ms Burrows told Judge Power that while Lehrmann’s previous solicitor had indicated he would make an application for a judge-only trial, her client no longer had a position on whether any trial should be heard by a jury.

The matter will return to court for an August 28 hearing concerning Ms Burrows’ efforts to subpoena the Commissioner of Queensland Police for access to all materials involved in the case.

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Trump claims Aussie beef win as Labor denies trade-off

Trump claims Aussie beef win as Labor denies trade-off

Donald Trump is claiming a win over dropped biosecurity restrictions on US beef despite Australian leaders saying the move has nothing to do with ongoing trade negotiations.

The US president has been pushing for concessions from a raft of countries after unveiling sweeping tariffs on imports, including a baseline 10 per cent rate for Australian goods.

Washington officials have complained about non-tariff trade barriers for US wares being shipped to Australia, including long-standing restrictions on beef that have now been dropped.

Mr Trump said the US would “sell so much to Australia”, putting other countries that banned its beef imports on notice.

US President Donald Trump and Prime Minister Anthony Albanese
US President Donald Trump pressured Anthony Albanese’s government to ease beef restrictions. (Mick Tsikas/AAP PHOTOS)

“After many years Australia has agreed to accept American beef!” he posted on his Truth Social platform.

“All of our nation’s ranchers, who are some of the hardest working and most wonderful people, are smiling today, which means I am smiling too.”

US trade representative Jamieson Greer said the president took “decisive action to confront unfair trading practices”.

“Australia’s decision to unlock market access for US beef is a direct result of his leadership,” he said.

The Australian government maintains the decision was unrelated to any trade negotiations and it followed a decade-long biosecurity review relating to US beef after a 2003 mad cow disease outbreak.

“It’s nothing in the timing, it reflects a change in American practice over the last six or nine months that’s been assessed independently by our officials,” Health Minister Mark Butler told Seven’s Sunrise on Friday.

“As I understand it, the Americans introduced new traceability arrangements.”

A blanket ban on US beef imports was lifted in 2019, but there were restrictions on products derived from Canada- or Mexico-raised cattle.

Only small quantities have been imported to Australia since the wholesale ban was lifted.

Craig Huf, a cattle producer from Upper Barringbar on the NSW north coast, said large volumes of imported beef were not expected to reach the Australian market because of record-low US herd numbers.

“The US is already importing bucketloads of beef from Australia, so for it to come back the other way is unlikely,” Mr Huf, the chair of the local NSW Farmers Association branch, told AAP on Friday.

“So, in the short term, we probably don’t expect it to impact us.”

But the association backed industry calls for an independent review of the government’s decision to reassure producers about biosecurity risks.

Cattle is auctioned at the cattle yards in Dalby, west of Brisbane
Cattle producers don’t expect to be affected by US beef imports in the short term. (Dan Peled/AAP PHOTOS)

“Australia has got some of the best biosecurity protocols in the world and the produce here is often bought because of its clean, green image,” Mr Huf said.

“So to jeopardise that is pretty risky, but here’s hoping the science is right and that we’re not the sacrificial lambs of government policies.”

Australian Farm Institute executive director Katie McRobert said the cattle industry had been “extremely nervous” about biosecurity traceability from different parts of North and South America.

“We wouldn’t expect a significant impact on Australian producers from the potential to import American beef … because we already produce far more beef in Australia than we can possibly eat,” she said.

Experts have warned that Australia’s move to lift restrictions on US beef might not be enough to shift the dial on tariff negotiations.

The Philippines and Japan recently struck agreements with the US to lower their tariff rates, but both nations’ goods are still taxed above the 10 per cent baseline.

Former Australian Ambassador to the US Arthur Sinodinos
Arthur Sinodinos believes a “package approach” is more likely to secure a better US trade outcome. (Lukas Coch/AAP PHOTOS)

AMP chief economist Shane Oliver said Australia might be lucky to hang on to its baseline rate in the context of other deals.

Former ambassador to the US Arthur Sinodinos said while biosecurity investigations could take a while to finalise, it was a sensible outcome.

But he urged Australia to put together a comprehensive package to improve bargaining power in the attempt to strike a trade deal.

Asian stocks ease, as markets brace for crucial week

Asian stocks ease, as markets brace for crucial week

Asian shares have eased, with Japanese markets retreating from a record peak, as investors locked in profits ahead of a crucial week that includes US President Donald Trump’s tariff deadline and a host of central bank meetings.

The dollar gained against the yen after bouncing off a two-week low on Thursday, helped by some firm US economic data, while Japan’s currency was weighed down by political uncertainty amid media reports Prime Minister Shigeru Ishiba will step down.

Benchmark Japanese government bond yields hovered just below the highest since 2008.

Japan’s broad Topix index, which had jumped more than 5 per cent over the previous two sessions to reach an all-time high, pulled back 0.7 per cent. The Nikkei slipped 0.5 per cent from Thursday’s one-year high.

Hong Kong’s Hang Seng lost 0.5 per cent and mainland Chinese blue chips declined 0.2 per cent. Australia’s equity benchmark declined 0.5 per cent.

At the same time, US S&P 500 futures added 0.2 per cent, after the cash index edged up slightly to a new record closing high overnight, buoyed by robust earnings from Google parent Alphabet. The tech-heavy Nasdaq also marked a record high.

MSCI’s gauge of stocks across the globe edged down 0.1 per cent, but remained just below an all-time peak from Thursday. The index is on course for a 1.3 per cent weekly advance, buoyed in large part by optimism for US trade deals with the European Union and China, following an agreement with Japan this week.

Next week, in the US alone, investors need to contend with Trump’s August 1 deadline for trade deals, a Federal Reserve policy meeting, the closely watched monthly payrolls report, and earnings from the likes of Amazon, Apple, Meta and Microsoft.

The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba’s Liberal Democratic Party holds a meeting the same day.

That’s after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waits to assess any impact from US tariffs.

The euro ended the session down 0.2 per cent against a buoyant dollar, and was little changed on Friday at $1.1743.

The US currency advanced 0.3 per cent to 147.37 yen, adding to Thursday’s 0.4 per cent gain.

Trump kept the pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would.

US 10-year Treasury yields edged down to 4.39 per cent on Friday, effectively erasing an advance on Thursday.

Equivalent Japanese government bond yields eased 0.5 basis point to 1.595 per cent, just off this week’s high of 1.6 per cent, a level last seen in October 2008.

JGB yields have been rising on concerns the political scale is tilting more towards fiscal stimulus, after big gains for opposition parties backing consumption tax cuts in Sunday’s upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, after doing the same in lower house elections last October.

Gold was flat at around $3,368 per ounce, keeping it on course for a 0.5 per cent rise this week.

Brent crude futures gained 0.3 per cent to $69.35 a barrel, while US West Texas Intermediate crude futures added 0.2 per cent to $66.18 per barrel.

Workers could be $14,000 ahead under a growth mindset

Workers could be $14,000 ahead under a growth mindset

Workers could eventually be $14,000 a year better off if an upcoming roundtable is successful, Australia’s productivity tsar says, as competing interests draw battle lines over the summit’s priorities.

Productivity Commission chair Danielle Wood says Australia should adopt a “growth mindset” to prioritise economic outcomes and boost living standards.

That includes changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals, and ensuring artificial intelligence adoption isn’t undermined by unnecessary regulation.

Productivity Commission chair Danielle Wood
Danielle Wood says Australia should adopt a “growth mindset”. (Dean Lewins/AAP PHOTOS)

The suggestions were included in a sneak peek of the commission’s priority reforms as it prepares to release a series of reports detailing solutions to Australia’s productivity challenge.

“Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,’ Ms Wood said.

“Productivity growth is essential to fulfilling that promise.”

But productivity growth has plummeted in recent years.

How much Australia produces with the same number of workers has grown by just under 0.4 per cent a year since 2015, compared to the 60-year average of 1.6 per cent. 

The average adult full-time worker would be $14,000 a year better off by 2035 if the growth rate returned to the historic average.

Construction workers
The Productivity Commission is preparing to release a series of reports on solutions to challenges. (David Mariuz/AAP PHOTOS)

In a new report, the commission laid blame for the slowdown on governments ignoring or minimising economic growth when making policy choices.

Policymakers have made it harder than it should be to start a business or build infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or “overly influenced by vocal stakeholder groups”.

Governments must balance competing objectives and make choices that improve Australians’ overall wellbeing, even if those decisions might negatively affect other goals.

“Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,” Ms Wood said.

“That doesn’t mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs.”

Solar farm
Policymakers have made business and project investment harder than it should be. (Lukas Coch/AAP PHOTOS)

The paper pre-empts an economic roundtable convened by Treasurer Jim Chalmers, which will take place over three days in August.

He said the report made clear the productivity problem had been around for decades and that almost every comparable country has had the same challenge.

In its submission to the roundtable, a joint group of industry associations – including the Business Council of Australia and the Australian Chamber of Commerce and Industry – outlined four priority areas for reform.

These include reforming research and development funding models to boost innovation, cutting the regulatory burden by 25 per cent by 2030, co-ordinating and unifying planning processes to speed up project approvals, and committing to comprehensive tax reform.

“We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment,” Business Council chief executive Bran Black said.

“These policies can deliver benefits for economic activity across the whole country and importantly, ensure future generations aren’t worse off.”

ACTU secretary Sally McManus
ACTU secretary Sally McManus says the Productivity Commission ignores the impact of poor management. (Joel Carrett/AAP PHOTOS)

But Australian Council of Trade Unions secretary Sally McManus said it was poor management that was dragging down productivity, with a survey conducted for the peak union body showing almost two in five employees suffered work burnout.

“This new survey highlights the symptoms of one of the most significant causes of slow productivity growth in Australia – poor management performance,” she said.

“Despite this issue being uncovered in many significant international and local studies, our Productivity Commission largely ignores it.”

Dr Chalmers said it was a good thing that a range of views was being expressed ahead of the roundtable, so that “we can tease out our differences and seek common ground”.

“It’s obvious that when it comes to decisions taken by managers and by boards and by others, obviously that has implications for productivity,” he said. 

“It would be unusual in the extreme if the ACTU representing Australian workers weren’t able to make that view public.”

Paramount-Skydance $8 billion merger approved

Paramount-Skydance $8 billion merger approved

A merger between Paramount Global and Skydance Media, has been given federal approval, clearing the way for an $8.4 billion sale of some of the most prominent names in entertainment, including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel.

The Federal Communications Commission (FCC) agreed to transfer broadcast licenses for 28 owned-and-operated CBS television stations to the new owners after Paramount paid $16 million to settle a lawsuit filed by US President Donald Trump over a “60 Minutes” interview with former Vice President Kamala Harris that aired in October.

Commission Chairman Brendan Carr has said the agency’s review of the proposed merger was not connected to the civil suit.

The approval came after Skydance and its investment partner, RedBird Capital, assured the FCC of their commitment to unbiased journalism that represents diverse viewpoints.

Skydance said it would appoint an ombudsman to evaluate complaints of editorial bias or other concerns about CBS in an effort to promote transparency and increased accountability.

Paramount also eliminated its diversity, equity, and inclusion initiatives to align with the Trump administration’s view that such affirmative action policies are discriminatory.

UK, Australia to ink new AUKUS deal amid US uncertainty

UK, Australia to ink new AUKUS deal amid US uncertainty

The UK will sign a new 50-year bilateral AUKUS treaty with Australia during ministerial talks in Sydney, as question marks continue over US involvement in the submarine project.   

Foreign Secretary David Lammy and Defence Secretary John Healey will meet their Australian counterparts Penny Wong and Richard Marles at the annual Australia-UK ministerial meeting, or Aukmin, in Sydney.

They will then travel on to Melbourne to meet businesses involved in the AUKUS submarine program. 

They will also visit Darwin as the UK Carrier Strike Group docks in the Northern Territory. 

The AUKUS partnership between the UK, US and Australia involves building nuclear-powered attack submarines – including Australia acquiring its first such fleet – and co-operating in other areas of defence. 

It was agreed by the three countries in 2021, but the Trump administration has put it under review, raising fears it could pull out. 

The deal now being signed by the UK and Australia sets out the bilateral aspects of the partnership and how the two countries will work together to deliver the AUKUS submarine program over the next half-century. 

“AUKUS is one of Britain’s most important defence partnerships, strengthening global security while driving growth at home,” Healey said. 

“This historic treaty confirms our AUKUS commitment for the next half century.” 

He said people “not yet born” will benefit from jobs secured through the deal. 

More than 21,000 people in the UK are expected to be working on the program at its peak. 

Lammy said the UK-Australia relationship is “like no other”. 

“In our increasingly volatile and dangerous world, our anchoring friendship has real impact in the protection of global peace and prosperity,” he said. 

“Our new bilateral AUKUS treaty is an embodiment of that – safeguarding a free and open Indo-Pacific whilst catalysing growth for both our countries.” 

Trump and Powell bicker over cost of Fed building reno

Trump and Powell bicker over cost of Fed building reno

President Donald Trump has publicly scorned Federal Reserve Chair Jerome Powell for the cost of an extensive building renovation as the two officials began a tour of the unfinished project. 

Trump said the project cost $US3.1 billion ($A4.7 billion), much higher than the Fed’s $US2.5 billion ($A3.8 billion) figure, while Powell, standing next to him, silently shook his head. 

“This came from us?” Powell said, then figuring out that Trump was including the renovation of the Martin Building which was finished five years ago.

“Do you expect any more additional cost overruns?” Trump asked.

“Don’t expect them,” Powell said.

President Donald Trump
President Donald Trump has criticised the cost blowout of the Federal Reserve’s renovations. (AP PHOTO)

Trump said in his career as a real estate developer, he would fire someone for cost overruns. 

The visit is an attempt to further ratchet up pressure on Powell, whom the Republican president has relentlessly attacked for not cutting borrowing costs. 

Trump’s criticisms have put the Fed, a historically independent institution, under a harsh spotlight. 

Undermining its independence could reduce the Fed’s ability to calm financial markets and stabilize the US economy.

“This stubborn guy at the Fed just doesn’t get it — Never did, and never will,” Trump said Wednesday on Truth Social. 

“The Board should act, but they don’t have the Courage to do so!”

On Thursday ahead of Trump’s visit, reporters wound through cement mixers, front loaders, and plastic pipes as they got a close-up view of the active construction site that encompasses the Fed’s historic headquarters, known as the Marriner S. Eccles building, and a second building across 20th Street in Washington.

Fed staff, who declined to be identified, said that greater security requirements, rising materials costs and tariffs, and the need to comply with historic preservation measures drove up the cost of the project, which was budgeted in 2022 at $US1.9 billion ($A2.9 billion). 

The staff pointed out new blast-resistant windows and seismic walls that were needed to comply with modern building codes and security standards set out by the Department of Homeland Security. 

The Fed has to build with the highest level of security in mind, Fed staff said, including something called “progressive collapse,” in which only parts of the building would autumn if hit with explosives. 

Sensitivity to the president’s pending visit among Fed staff was high during the tour. 

Reporters were ushered into a small room outside the Fed’s boardroom, where 19 officials meet eight times a year to decide whether to change short-term interest rates. 

The room, which will have a security booth, is oval-shaped, and someone had written “Oval Office” on plywood walls. 

The Fed staff downplayed the inscription as a joke. When reporters returned to the room later, it had been painted over. 

Plans for the renovation were first approved by the Fed’s governing board in 2017.  

Fed staff also said tariffs and inflationary increases in building material prices drove up costs. 

Trump in 2018 imposed a 25 per cent duty on steel and 10 per cent on aluminum. He increased them this year to 50 per cent. 

Steel prices are up about 60 per cent since the plans were approved, while construction materials costs overall are up about 50 per cent, according to government data. 

Fed staff also pointed to the complication of historic renovations — both buildings have significant preservation needs. 

Constructing a new building on an empty site would have been cheaper, they said. 

The Fed has previously attributed much of the project’s cost to underground construction. It is also adding three underground levels of parking for its second building. 

Trump wants Powell to dramatically slash the Fed’s benchmark interest rate under the belief that inflation is not a problem, but Powell wants to see how Trump’s tariffs impact the economy before making any rate cuts that could potentially cause inflation to accellerate. 

The renovation project has emerged as a possible justification by Trump to take the extraordinary step of firing Powell for cause, an act that some administration officials have played down, given that the Fed chair’s term ends in May 2026. 

Pushing Powell out also would almost certainly jolt global markets, potentially having the opposite effect that Trump wants as he pushes for lower borrowing costs. 

Families paying premiums for school catchment zones

Families paying premiums for school catchment zones

Families are paying up to $1.3 million more to live in top public school catchments in major cities, but those premiums don’t always deliver stronger long-term capital growth, data reveals. 

Analysis from property platform Cotality shows buyers are willing to pay significantly more to access high-performing schools, even though comparable homes just outside the catchment often deliver better capital gains.

The research compared nine school catchment clusters across Sydney and Melbourne and found seven had higher median house values compared to out-of-catchment homes.

School students
Dta shows buyers are willing to pay more for homes in catchment areas with high-performing schools. (Dean Lewins/AAP PHOTOS)

Six of the catchments recorded lower capital growth in the past 15 years.

Cotality head of research Eliza Owen told AAP higher premiums for homes in school catchments were not surprising but it was interesting most had lower capital growth over time.

“It depends on the personal preference, but there are definitely some benefits to buying and paying a premium for a good public school catchment area,” she said.

“In some of the most in-demand school zones, families are paying hundreds of thousands and in one case more than a million dollars, more for a house compared to similar houses outside the boundary.”

The largest price gap was in Sydney’s North Shore, where homes in the combined catchments of Killara High, Willoughby Girls and Lindfield Learning Village held a median value almost $1.3 million more than homes nearby but outside the catchment.

Shops and apartment buildings in Sydney
Homes in one Sydney catchment held a median value of almost $1.3 million more than others nearby. (Dan Himbrechts/AAP PHOTOS)

But houses outside the catchment recorded lower long-term growth of 126 per cent in the past 15 years, compared to 150.3 per cent in neighbouring markets.

In Melbourne, the premium for homes in the catchments of Princes Hill and University High School reached $357,000, though capital growth was weaker than in surrounding suburbs.

This was not the case across the board however, with the report finding school catchment zones that were cheaper. 

Ms Owen said being near a good school did not exactly translate to higher prices.

She noted homes in the catchment for Cherrybrook Technology High School, in northern Sydney, which were priced at $155,000 less than comparable properties outside the zone in the same suburbs. 

The Melbourne skyline and rooftops
Eliza Owen says there can be benefits to buying homes in good public school catchment areas. (James Ross/AAP PHOTOS)

“The (school) has been around for a long time, lots of students, lots of facilities, and it’s got this reputation for driving housing demand and values,” Ms Owen said. 

“But if you look at the broader Hills District in which the school is situated, a much higher portion of kids in that broader area are going to private schools. 

“Maybe that’s why there’s not as much of a premium in that catchment relative to the out-of-catchment markets.”

Ms Owen emphasised the premiums in some school catchment zones could also reflect other factors such as proximity to train stations, or the high incomes of those living within the area.

‘Trade-offs’ on cards to get productivity back on track

‘Trade-offs’ on cards to get productivity back on track

Australians are being warned to prepare for trade-offs in areas such as housing if the nation’s productivity push is to be successful.

Productivity Commission chair Danielle Wood is calling on Australia to adopt a “growth mindset” to prioritise economic outcomes and boost living standards.

That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions.

Productivity Commission chair Danielle Wood
Policymakers need to elevate economic growth, the Productivity Commission’s Danielle Wood says. (James Ross/AAP PHOTOS)

It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again.

“Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,” Ms Wood said.

“Productivity growth is essential to fulfilling that promise.”

But productivity growth has plummeted in recent years.

How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. 

That’s been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission.

Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or “overly influenced by vocal stakeholder groups”.

Governments must balance competing objectives and make choices that improve Australians’ overall wellbeing, even if those decisions might negatively affect other goals.

“Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,” Ms Wood said.

“That doesn’t mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs.”

The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers.

Treasurer Jim Chalmers
Treasurer Jim Chalmers promises a “methodical and considered” approach to the productivity problem. (Mick Tsikas/AAP PHOTOS)

He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge.

“The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community,” Dr Chalmers said.

In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform.

They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform.

“We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment,” Business Council chief executive Bran Black said.

“These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren’t worse off.”

Risk of higher US tariffs looms despite beef deal

Risk of higher US tariffs looms despite beef deal

Australia’s move to lift restrictions on US beef is unlikely to shift the dial on tariff negotiations, as the nation’s products face the possibility of even steeper duties.

The Albanese government will allow access to US beef that has been raised in Canada or Mexico but processed in America, following a safety review.

Australia is subject to a baseline 10 per cent tariff applied by the Trump administration and has been keeping an eye on the trade negotiations of other countries.

US President Donald Trump and Prime Minister Anthony Albanese
US President Donald Trump pressured Anthony Albanese’s government to ease beef restrictions. (Mick Tsikas/AAP PHOTOS)

AMP chief economist Shane Oliver said Donald Trump’s flagged higher tariffs might include the nation’s exports.

“The risk for Australia is that we may be lucky to hang on to 10 per cent, which could actually turn out to be higher,” he told AAP.

“This (beef decision) might help us hang on to 10 per cent or avoid a worse outcome, but I don’t think there’s any guarantees of that.”

American beef was banned from Australia almost two decades ago following an outbreak of mad cow disease.

Mr Trump has pressured the government to ease restrictions as Labor argues for an exemption from the tariffs as part of the US president’s deepening trade war.

Former Australian Ambassador to the US Arthur Sinodinos
Arthur Sinodinos believes a “package approach” is more likely to secure a better US trade outcome. (Lukas Coch/AAP PHOTOS)

Former ambassador to the US Arthur Sinodinos said while biosecurity investigations can take a while to finalise, it was a “sensible outcome”.

“The challenge here is it doesn’t look like we’re putting together a package deal,” he said.

“It’d be better if there was a package approach to this if we’re seeking to gather an overall trade outcome with the US.”

Australian Farm Institute executive director Katie McRobert said the cattle industry has been “extremely nervous” about biosecurity traceability from different parts of the north and South America regions.

“We wouldn’t expect a significant impact on Australian producers from the potential to import American beef … because we already produce far more beef in Australia than we can possibly eat,” she said.

Trade Minister Don Farrell
Trade Minister Don Farrell says there is no justification for the US tariffs. (Mick Tsikas/AAP PHOTOS)

Trade Minister Don Farrell said he didn’t have any meetings scheduled with American counterparts after last meeting US trade representative Jamieson Greer on the sidelines of an OECD ministerial meeting in Paris in June.

Senator Farrell said Mr Greer didn’t raise beef concerns at that meeting. 

“We believe that America should lift those tariffs on Australia, there’s no justification whatsoever for the United States to apply tariffs to Australia,” he told reporters in Canberra on Thursday.

“We have a free trade agreement, that agreement makes it very clear that it’s a tariff free arrangement.”

Senator Farrell also denied the move was to create a bargaining chip.

The Philippines and Japan recently struck agreements with the US to lower their tariff rates, but both are still above the 10 per cent baseline.

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