delete Customs (Prohibited Exports) Regulations (Amendment)
Amends the Customs (Prohibited Exports) Regulations to establish/modify a list of goods prohibited from export from Australia, creating offenses for unauthorized exports and prescribing penalties.
Export prohibitions reduce wealth creation by preventing mutually beneficial trade, impose compliance costs on businesses, and create deadweight loss. They violate the principle of liberty to engage in voluntary exchange, and their unintended consequences include reduced competitiveness, black markets, and distorted investment decisions. The regulation's costs to Australia's prosperity and trading relationships far exceed any marginal benefits.