Economics committee to hear from aviation industry and former ASIC chair

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 August 23, 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 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: 10am to 1.45pm AEST
Location: Corinthian Room, Sydney Masonic Centre

The public hearing will be broadcast live at https://www.aph.gov.au/live.

 

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