But more importantly, improving productivity from our low level would not take too much of financial resources. It will only require a change in behaviour and work ethics. It will only require that we all get excited about this issue at all levels. Firstly, in my view, we require a national vision for productivity. This national vision will assist in changing the mindsets.
There was a decent chance that authorities could conclude that a regulatory response was necessary to generate the desired improvement in market structure and conduct. But the Code provided the opportunity for a joint public/private sector approach to address the lack of trust and market dysfunction. The Code is not regulation.