Productivity isn’t exciting language. But what it means in practice is simpler rules, lower compliance costs and less time spent on paperwork instead of work. This Budget includes a significant package of practical reforms.

Free access to Australian Standards

From this Budget, small businesses and tradies get free access to all Australian Standards referenced in legislation.

Previously, accessing these documents cost money. If your trade or profession requires you to work to a particular standard, you had to pay to read the document that defined that standard.

What it saves:

• Up to $1,600 per year for small businesses and tradies

Tariff reductions

The Government is abolishing another 497 nuisance tariffs from 1 July 2026.

• Total tariffs abolished over two years: around 1,000

• Streamlines more than $23 billion in trade

• Saves businesses $157 million per year in compliance costs

If your business imports materials, components or equipment, this is worth checking.

Financial sector red tape

• 14 legislative reforms to reduce compliance costs across the financial sector

• 13 actions by financial regulators to streamline data collections

• Combined saving: $780 million per year for the financial sector

The overall picture

Across the full productivity reform package:

• Regulatory burden reduced by $10.2 billion per year

• Long-run GDP increase of around $13 billion per year through the Single National Market reforms

• $10.2 billion in total annual regulatory savings once fully implemented

These aren’t the sorts of measures that dominate conversation. But they’re the kind that add up significantly over time for anyone running a business or working in a trade.

For more on productivity in the budget