Creating a more dynamic and resilient economy
Submission Date: 23 September 2025
The Law Council of Australia provided its views on the Productivity Commission’s Interim Report on creating a more dynamic and resilient economy.
The Law Council supports the Commission’s efforts to explore reforms that foster a more dynamic and resilient Australian economy. We recognise that corporate tax and regulatory system reforms can foster innovation, competition and sustainable growth. However, this must be carefully weighed against maintaining safeguards for public interest and trust in legal and policy frameworks.
In all aspects of reform, the Law Council calls for a balanced, evidence-based approach that pairs quantitative targets with qualitative assessments, and integrates economic goals with other policy pillars, namely:
- building a skilled and adaptable workforce;
- harnessing data and digital technology;
- delivering quality care more efficiently; and
- investing in cheaper, cleaner energy and the net zero transformation.
As noted in the Interim Report, a dynamic economy enables entities and individuals to invest, learn, innovate and thrive. The Law Council particularly notes the Interim Report’s focus on changes to the corporate tax system, and to the way government regulates, with the goal of spurring more investment and productivity growth. These recommendations are the focus of the Law Council’s submission.
This submission is presented in two parts. Part 1 represents the views of the Law Council’s Business Law Section and reflects its membership’s expertise and specific experience working with the Australian Government when considering and implementing business law reform.
Part 2 reflects feedback received from the Law Society of New South Wales and the Law Institute of Victoria, two constituent bodies of the Law Council. This part also incorporates additional comments received from the Administrative Law Committee of the Law Council’s Federal Dispute Resolution Section.
Last Updated on 26/09/2025
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