The Financial System Inquiry provides a useful opportunity to ensure that the financial system is well placed to support future economic growth.
The BCA believes that the relative strength of Australia's capital markets should be considered a national asset and something we should look to develop and foster.
This will best be achieved by ensuring that the financial system is:
- internationally competitive
- able to fund investment that we will need in the future to underpin economic growth
- effectively regulated, without stifling efficency and innovation.
This submission to the Financial System Inquiry includes the chapter on a strong, stable and competitive financial system from the BCA's Action Plan for Enduring Prosperity released in July 2013.