Regulatory impact analysis: Addressing the trade and regulatory nexus

The potential for productivity growth to generate higher incomes makes it a natural and important consideration for decision-makers. Productivity is the only driver of income growth that is unlimited, as opposed to resource exploitation or increases in population and labour force participation, each of which faces natural limits. The continuing need to stimulate productivity growth rightly remains at the forefront of government policy, and is a key priority of the Australian government.