It is pleasing to see so many influential people coming together for a discussion about the country’s economic future. In a sense, I am really an observer here, because the things you need to grapple with today are mostly outside my remit. Australia’s monetary system is still – I trust – well supported by all the key stakeholders here.
It has helped to deliver good outcomes. Our financial sector is robust and stable. But a stable monetary standard and a strong financial system, while necessary conditions for prosperity, are not sufficient ones. More is needed – and that’s why you are here. Your topic is “reform” in the broad. It’s a term that will be used frequently over the next few hours.