enhancing microeconomic reform program supported by responsible fiscal policy. Applying this grand unifying principle, Australia must not wait for other governments to reform their economies before reforming ours. Australian economic reform is good for jobs, good for prosperity. As reformers, we have never waited for the world and we need not wait for the world now. Productivity growth accounted for 80 per cent of the increase in national income over the past 40 years. In an ageing population and a two-speed economy, productivity growth will need to do most of the heavy lifting over the coming 40 years too. Yet productivity growth began to slide from the turn of this century, starved of a new productivity-raising reform program to build on the Hawke-Keating Labor reforms. Reviving productivity growth through a new economic reform program is core business for the Gillard government. Economic reform at home and securing better market access abroad work hand-in-glove in creating jobs and prosperity. Australia's approach to trade policy should therefore be reviewed against the five Labor principles that have stood the test of time and served our nation well: unilateralism; non-discrimination; separation; transparency; and the grand unifying principle of trade policy as an indivisible part of overall economic reform. Guided by these principles, I will be conducting a review of Australia's future trade policy framework for release around the end of the first quarter of 2011. A Productivity Commission report on the existing approach to trade policy will be released in the near future and