To drive new Australian jobs, in August 2020, I commissioned a taskforce of senior business leaders in financial services, fintech and technology, chaired by Mr Andrew Low, an experienced global finance executive and non-executive director.
To formalise our national approach, the Morrison Government launched the Global Talent and Investment Taskforce led by Peter Verwer AO. To complement this work, we pulled together this group of technology and finance organisations, both large and small.
The mandate for the Australian Finance & Technology Centre Advisory Group was to develop a set of policy options to attract more Asia-Pacific headquarters to Australia and improve the international competitiveness of Australia as a financial centre.
The Low Report has made fifteen recommendations, actionable right now, to create high-quality jobs with negligible cost to the Federal Budget.
We can end the narrative that Australia is too expensive and complex by making Australia a real choice for regional head offices as well as new investment opportunities.
The competition is real. Our competitors have set up equivalents to our Global Talent and Investment Taskforce so we must move quickly.
I thank Mr Low and the Committee for their investment of time and for their outstanding work which the government will now consider.
You can read the full Low Report here.
List of Committee members:
|Alfonso Capito||Ernst & Young|
|Andrew Low (Chairman)||Australian British Chamber of Commerce|
|Antoinette Elias||Ernst & Young|
|Ben Heap||H2 Ventures|
|Dianne Challenor||Zip Money|
|Frank Kwok||Macquarie Group|
|Greg Cooper||Perpetual/ T Corp|
|Greg O'Neill OAM||La Trobe Financial|
|Liz Hastilow||First Sentier Investors|
|Robert Bedwell||JP Morgan|
|Sam Hallinan||Nikko Asset Management|
You can read an opinion editorial here. in the Australian Financial Review
You can read my Statement here.