By David Jacobson The Productivity Commission has released its draft report on competition in the Australian financial system.
The Report clearly states its objectives:
“The financial system must be strong and stable. But equally, it should ensure that Australia’s businesses and households are well-served and can have confidence that ‘unquestionably strong’ institutions are not exploiting the market power that might accompany this exalted status.
This inquiry focusses on competition in Australia’s financial system as a means to improve consumer outcomes, enhance the productivity and international competitiveness of the financial system and the broader economy, and support ongoing financial system innovation — without undermining financial stability objectives.”
The …read more
Source:: Bright Law