Recommendation 200

Broadly speaking, the financial services sector facilitates economic growth by providing capital, credit, insurance and other services to firms in the ‘real economy’. 294 Much of the evidence we received concerned the operational efficiency of the regulators, as described in Chapter 2. While this relates primarily to the competitiveness of, and growth in, the financial services sector, it also contributes to economic growth as all businesses should benefit indirectly if the financial services sector itself benefits.