QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:13): Obviously, productivity is a challenge and has been a challenge for many governments. It is the case post the Hawke and Keating era that we have seen governments of both political persuasions struggle with trying to lift productivity. We do have more work to do when it comes to productivity.

In relation to what is assumed in the budget, I will see if I have that. What I can say to you is: we know that productivity fell for seven quarters in the lead-up to the pandemic. We know that we have progressed 15 productivity reforms in the budget to help attract and absorb more investment.

These will make a meaningful difference, including cutting regulatory costs by $10.2 billion a year. Those productivity measures include incentivising investment and innovation, reducing red tape, removing barriers to trade, building a single national market, making it easier to engage with governments through digital ID and 'tell us once' reforms, simplifying building regulations with free standards and a simplified construction code, modernising energy markets, better recognising skills with a national credit recognition framework and reformed migration points test, unlocking data and AI opportunities, investing in science and innovation, accelerating approvals, strengthening the superannuation performance test, better coordinating government investment through specialist investment vehicles and driving ongoing regulatory reform, including further Productivity Commission focuses on priority areas like housing productivity.

The PRESIDENT: Senator Hume, first supplementary?