Fix environmental laws to productivity boost, Australian Climate and Biodiversity Foundation chair Ken Henry tells Labor
Ken Henry, the former Treasury secretary who handed down a highly recognised white paper on tax reform, now serves as chair to the Australian Climate and Biodiversity Foundation and will address the nation's flailing productivity at the National Press Club on Wednesday.
Productivity has become a major focus point for the Albanese government in its second term as it looks to bolster Australia's growth.
Mr Henry will tell attendees the Environment Protection and Biodiversity Conservation Act (EPBC) - Australia's main environment legislation - needs a radical overhaul.
'I can think of other reforms to boost productivity. Some even harder, though none more important. And if we can't achieve environmental law reform, then we should stop dreaming about more challenging options,' Mr Henry will say.
He will says changes to legislation are critical for Labor as it wants to balance environmental concerns with ambitious projects, including delivering 1.2 million new homes and continuing with the Future Made in Australia plan.
This also includes changes to laws surrounding mining and critical minerals projects.
'The Australian government has an ambition to massively increase critical minerals exports and downstream processing here in Australia,' Mr Henry will say.
'This means more mines, new industrial facilities, and more pressure being loaded onto broken EPBC project assessment and approval processes.'
He will call for a 'quick and efficient' delivery of the ambitious projects in a 'way that not only protects, but restores, nature' as Labor attempts to reduce carbon emissions.
'To put it bluntly, there is no chance of Australia meeting stated targets for net zero, renewable energy, critical minerals development, housing and transport infrastructure without very high-quality national laws that set clear environmental standards for major projects, a strong national decision maker respected by all parties, and significant improvement not only in Commonwealth environmental protection systems, but also in those of the States and territories,' Mr Henry will say.
'And all these projects will be critical to enhancing economic resilience and lifting flagging productivity growth.
'Boosting productivity and resilience relies upon environmental law reform.'
Labor is considering a raft of changes to boost productivity.
The nation's economy will take centre stage at the productivity roundtable in August where leaders across business, economics, politics and unions will come together.
A coalition of 28 businesses and industry groups have listed overhauling the EPBC as a major priority.
Australia's enormous superannuation sector, alongside major industries including artificial intelligence and manufacturing, will also come under the microscope.
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