Effective regulation provides fair access to public services, promotes competitive markets, ensures systems work effectively, and protects Australia and its people from harm. In collaboration with regulatory agencies, the Department of Finance has developed this whole-of-government framework to modernise regulation through digital design, innovation, and stewardship.

The framework provides Commonwealth regulators and regulatory policymakers with six principles to drive fit-for-purpose regulation in a digital era, protect against regulatory failures, and improve productivity. The principles dictate that regulation should be:

1. Targeted, risk-based and proportionate
2. Integrated in existing systems through a whole-of-system approach
3. Putting people and business at the centre through user-centred design and delivery
4. Evidence-based and data-driven
5. Reflective of the digital era, taking full advantage of technological capabilities while ensuring equitable access to regulatory systems
6. Continuously improved and outcomes-focused.

The Australian Government has recently legislated Stewardship as an Australian Public Service (APS) Value. This will help the APS better serve Australians by building its capability and institutional knowledge to support the public interest now and into the future. This framework takes the APS Value of Stewardship from principle to practice, empowering regulators and policymakers to drive meaningful regulatory reforms that deliver the better services promised under the APS Reform agenda.