Australia’s largest and most representative business network applauds the government’s decision to eliminate around 500 ‘nuisance tariffs.’

“The elimination of these tariffs is a welcome decision towards reducing the cost of doing business within Australia, ultimately benefiting consumers,” ACCI chief executive officer Andrew McKellar said.

“ACCI previously advocated for the removal of nuisance tariffs, and we welcome the fact that the federal government has listened and acted.

“Removing these tariffs is an important step in simplifying the trade system and driving productivity.

“It will deliver broader economic benefits, especially welcome during the current cost of living crisis, with consumers benefiting from lower costs of imported goods.

“Ensuring our border systems are as efficient as possible is vital. It means Australian enterprises can spend more time on doing business rather than administering red tape.”

The red tape and distortions associated with the tariffs have been an unnecessary drag on the economy. The Productivity Commission has highlighted that tariffs contribute just 0.3 per cent of total government revenue but bear substantial compliance costs.

“The costs of tariffs have eclipsed any revenue benefit generated. Removing these nuisance tariffs is a prudent step, saving business $30 million on top of the government’s costs by avoiding this bureaucratic process,” Mr McKellar said.