Mathias Cormann

The Financial Services Council has commended the formal establishment of the Commission of Audit announced today by the Treasurer, Joe Hockey and Finance Minister, Mathias Cormann.

“The Commission of Audit will be the first comprehensive review of Federal expenditure since 1996 and will be an opportunity for the government to get the budget right and to position Australia for future growth”,  John Brogden, CEO of the FSC said.

“It will also provide  an opportunity for the government to start with a clean slate and to remove inefficiencies that are stunting productivity within the public sector.”

“It is a positive sign that the Government is taking a considered approach in applying an independent process with some of Australia’s leading experts to  assess the future of Australia’s economy rather than relying on quick fix budget measures.”

“There will be some hard decisions to come out of this process, but it’s good for the future of Australia’s economy and to  protect our country from international economic volatility,” said Mr Brogden.

“The FSC congratulates Tony Shepherd on his appointment as head of the Commission of Audit.”

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