It’s almost tens since the Global Financial Crisis, and the impact of those big falls had a huge economic impact.

Around the world, banks had to be rescued by their governments. Trillions of taxpayer dollars were racked up.

In Australia, banks did not collapse, so is putting the regulatory security of the banks first best serving Australians if the competition has been suppressed in the name of safety?

It’s a question occupying the minds of our Productivity Commision.

Ross Greenwood speaks with Chairman of the Productivity Commission Peter Harris.

“It’s a terribly difficult thing because of course, we want both.

“It does put the regulators into a difficult at time as they have to judge whether the risk-seeking behaviour which goes with competition is too much risk.”

Listen to the full interview below