Thanks very much for following day two of the Financial Review Business Summit at the Hilton Sydney. Here are the biggest developments of the day so far:

• Penny Wong says the Albanese government is against tariffs: Foreign Minister Penny Wong has said the Albanese-led government is against tariffs but refused to comment on the United States’ decision to slap tariffs on multiple countries in the past 24 hours.
• Di Pilla ‘very interested’ in Healthscope rent defaults: HMC Capital managing director David Di Pilla has said he is “very interested” in the situation at private hospital operator Healthscope, after it failed to pay rent due on 11 hospitals his interests own.
• Productivity is being held back by the housing crisis, says Wood: Productivity Commission chair Danielle Wood has said that barriers to housing access are a big roadblock to increasing productivity.
• RBA did not overrule staff on call to cut, says Hauser: The Reserve Bank of Australia’s deputy governor has used his address at the Summit to articulate why the central bank chose to cut rates in February.
• Coalition promises taskforces for government efficiency: Shadow treasurer Angus Taylor has promised to create taskforces to make government more efficient, which will scrutinise the legal system and foreign investment review board.