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Read my Financial Review Article

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Australia Can Take Hong Kong's Crown.

There's a once in a life economic opportunity sitting on Australia's doorstep.

Hong Kong's standing as a global financial as a global financial centre has been destroyed by China's erosion of the 'one country, two systems' principle. As I wrote in The Australian Financial Review, this is not only a humanitarian issue, but an economic opportunity where it’s greatly needed.

I have written to Treasurer Josh Frydenberg with a set of ideas I believe will pave the way for Australia to capitalise on the disintegration of Hong Kong as a financial centre, by attracting businesses to Australia and more particularly, Sydney.

My letter to the Treasurer outlines four main things we need to do to win in Asia.

They are:

1. Tax reform. 2. Tax incentives. 3. An offer of welcoming administrative arrangements. 4. A take up of the Johnson Report which contains a raft of measures to make financial services more competitive; specifically, ensuring investment vehicles which are available in Singapore become available in Sydney.

As Chair of the Senate Select Committee on Financial Technology and Regulatory Technology I can tell you there is a wealth of financial and technology jobs depending on us to make this move.

You can read my full Financial Review article here.

You can read the Financial Review news story here.
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