It is the hope of this committee that the government will commence implementing recommendations as soon as possible even if done separately as each recommendation will result in unleashing the considerable power of the corporate bond market in Australia, - Conclusion of the Standing Committee on Tax and Revenue in The Development of the Australian Corporate Bond Market: A Way Forward
A few submissions highlighted that Australia’s superannuation industry has the potential to be a larger source of domestic capital.
The way forward for Australia's corporate bond market
As the Morrison Government returns from COP26 , it will be mindful of the huge lift in investment that will be required for Australia to meet its Paris Agreement commitments. Banks cannot fund this alone, and more than ever, companies will need to look to Australia’s corporate bond market as an alternative source of funds to banks and equity. A deep and liquid corporate bond market is therefore a critical part of the Government’s response to the economic challenges posed by climate change. Any delays in implementing the Committee’s recommendations could come at a cost to the Government’s ability to step up to meet these challenges. And, as various leaders at COP26 made clear in their speeches and announcements, the time for all nations to respond to these economic challenges is now.