The Finance Sector Union today welcomed a report into securing Australia’s role as a major financial hub.

National Secretary Leon Carter said the report, released by the Australian Financial Centre Forum, is a positive step forward.

“After years of seeing finance jobs leave Australia, we welcome any coordinated plan backed by Government to grow our industry at home,” Mr Carter said.

He said the recognition of how much the industry and its well-trained workforce contribute is particularly welcome.

“Today’s report confirms the significant value that human capital brings to Australia through our stable financial sector,” Mr Carter said.  “Australia can’t take advantage of global opportunities in finance without a well-trained workforce.

“We welcome the forum adding its voice to ours in highlighting how important a well-trained workforce is to this country.”

The FSU’s Skills Forum in 2008 first drew attention to the need for more training and education to ensure Australia’s finance sector prospered.

“We can’t have a strong financial sector without skilled jobs and skilled people in those jobs.”

But Mr Carter said he was concerned the report didn’t call for better regulation.

“One of the lessons from the GFC is that strong regulation not only protects the country and consumers from the excesses of big banks, but also helps retain jobs.”

He also noted the report’s and Government’s silence on off-shoring Australian jobs.

“For Australia to be a successful, responsible and profitable financial hub the Australian finance industry needs Australian jobs and skilled Australian finance workers.”

ENDS

For more information:
Leanne Shingles, FSU, 0423.821.773
Leon Carter, Spokesperson, 0409.946.597