The House Standing Committee on Economics will next focus on the aviation industry as part of its inquiry into promoting economic dynamism, competition and business formation. Greg Medcraft, former Australian Securities and Investments Commission (ASIC) chair, will also discuss dynamism in the financial industry.
At the next public hearing in Sydney on 23 August, 2023, the committee will hear from Rex Airlines, the Australian Airports Association, and the Sydney Airport Corporation.
The Committee will also hear from Greg Medcraft, chair of the Australian Finance Group and former chair of ASIC, to better understand competition and economic dynamism in the financial industry.
Committee Chair Dr Daniel Mulino said: ‘Mr Medcraft also has extensive experience with the OECD in Paris and he has spoken regularly about how the dominance of Australia’s major banks has eroded competition in the banking sector.
‘Mr Medcraft has also discussed ways to improve competition in the residential mortgage market and the role that digital disruption, particularly blockchain, will have in improving the efficiency of global capital markets, so the committee looks forward to hearing from him,’ Dr Mulino said.
More details about the inquiry, including the full terms of reference, are available on the committee’s website.
Public hearing details
Date: Wednesday 23 August 2023
Time: 10.00 am to 1.45 pm AEST
Location: Corinthian Room, Sydney Masonic Centre
The public hearing will be broadcast live at https://www.aph.gov.au/live.
