OPINION: The Hayne royal commission budget of $65 million could fund the budget of a revived Corporations and Markets Advisory Committee for 65 years.
about economic challenges facing Australia. He rightly says there is no quick fix.
Sadly, CAMAC was abolished as part of a push to “smaller” government in the 2014-15 budget, with CAMAC’s coup de grâce finally legislated in 2018.. Because it utilised a network of professionally sourced committees and subcommittees that were paid modest sitting fees, CAMAC had achieved an extraordinary output with a full-time staff of just two people.Several years into the vacuum came the Hayne royal commission.
CAMAC had the ability to identify and raise the prospect for law reform based on thoughtful international research, stakeholder input and market considerations.
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