Danielle Wood

But for the last 20 years, technology has been adding less to growth.

The frontier has shifted less rapidly.

And then we've just seen economies become less dynamic.

And by that, I mean fewer new businesses being started, less entrepreneurialism, people switch jobs less often.

So all those sort of economic forces that move resources around from areas of low productivity to high productivity look more gummed up.

So that's the kind of broad environment the government is operating in.

You know, policy, you know, I talk about as creating that ecosystem within which growth can happen.

So policy matters.

And of course, I believe policy matters.

But there's not a simple line between, you know, PC says this, government pulls lever, productivity happens.

It's a lot more complex, the environment in which it's occurring.

Look, I mean, I think it's fair to say that probably the appetite for doing hard reforms will wax and wane with the broader economic circumstances.

And I think it is right if we looked at the sort of reform agenda and appetite over the past 20 years, I think we would argue that it's been smaller or less ambitious than we saw through that period in the 80s and 90s.

That said, I think sometimes people are overly critical.

The reforms sometimes look a bit different than what they did.

You can only float the dollar once.

So some of the reforms that governments have to grapple with today just are complex.

If you think of reforming big beasts like the NDIS, those sort of things, they're very tricky to land compared to, say, cutting tariffs or floating the dollar.

So, you know, we are in an environment where things are harder, but I think that is right to say that, you know, to some degree, broader circumstances have meant that we haven't had to do the hard yards in the way we might have done in previous decades.

Look, I haven't gone through and kind of counted them off.