Financial services top of government agenda
The Federal Government is creating a new team to promote Australia – specifically Sydney – as a financial services hub.
PM Kevin Rudd last week told a Financial Services Hub Summit in Sydney that a team within Treasury will take charge of the Government’s financial services agenda. It will work with ICA, the Investment and Financial Services Association and the Australian Bankers’ Association and will become the single point of contact for the sector.
“The past 12 months have brought volatility and continuing uncertainty on global capital markets,” Mr Rudd said. “One of the most critical ways in which the Government can act is to enable greater access to overseas markets for financial services.”
NSW State Development Minister Ian Macdonald says NSW and the Federal Government are working together to establish a “Canary Wharf” financial services precinct in the planned Barangaroo development in east Darling Harbour.
The Financial Sector Advisory Council will be charged with oversight of the team and its recommendations.
PM Kevin Rudd last week told a Financial Services Hub Summit in Sydney that a team within Treasury will take charge of the Government’s financial services agenda. It will work with ICA, the Investment and Financial Services Association and the Australian Bankers’ Association and will become the single point of contact for the sector.
“The past 12 months have brought volatility and continuing uncertainty on global capital markets,” Mr Rudd said. “One of the most critical ways in which the Government can act is to enable greater access to overseas markets for financial services.”
NSW State Development Minister Ian Macdonald says NSW and the Federal Government are working together to establish a “Canary Wharf” financial services precinct in the planned Barangaroo development in east Darling Harbour.
The Financial Sector Advisory Council will be charged with oversight of the team and its recommendations.