One regulation I can think of that is holding Australia back is that when a private company builds its own infrastructure it is forced to allow other ISPs access. Because of this there is no incentive for companies to build their own infrastructure (why build the network just to allow your competitors to use it?) so we are all stuck waiting for the government to build the network instead because the not free market is failing.

Competition with Internet infrastructure has already done a lot of good in Australia. There is a company called PIPE networks that has built its own international cable and thats when unlimited plans started becoming a thing here. PIPE does a lot of business to business high speed networks, when I first herd of them I was using westnet and part of their plans was free uploads and downloads between westnet users over PIPE infrastructure. It was very similar to what you would expect from a local area network being extended beyond a users home because thats basically what it was. If only I could own my own cable from my residence to the street and from there choose one or more ISPs instead of it having to be the ISP that owns it with the messed up forced sharing that gets us nowhere, I should decide who connects to my residence because I own the cable not the government. TPG owns PIPE now and has for some time, they plan to build their own Internet infrastructure directly in competition to the governments if they are allowed.

If you want to boil it down to a catch phrase then I would say stop allowing the government to create monopolies in Internet infrastructure through subsidies, licensing, regulations subject to regulatory capture, eminent domain and outright banning of competition.