The Government has invited submissions on the draft Terms of Reference for the Financial System Inquiry. The Inquiry, to report to the Treasurer in November 2014, ‘will make recommendations to foster an efficient, competitive and flexible financial system, consistent with financial stability, prudence, integrity and fairness.’
Research Australia’s submission has sought to have the terms of reference amended to specifically include consideration of how the financial system can better support productive innovative companies and ideas, as an essential element in commercialising the outcomes of Australia’s scientific research.