phillip adams on ideas summit, page-15

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    One of the summit's big ideas has already won financial banking from one of the nation's biggest banks.


    The head of World Vision Tim Costello, put forward his group's idea for a new foundation to finance cheap loans for the disadvantaged.


    Mr Costello explained the proposal to fellow participants, telling them money will not be a problem.


    "A micro-finance foundation to support disadvantaged groups to establish their own business. Why is it cost neutral? Because a banker of a small bank called NAB in our group put $30 million on the table in our group for this," Mr Costello said.


    Westpac boss David Morgan outlined his group's vision for the tax system.


    "We propose a holistic review to enhance the fairness, the simplicity and the efficiency," he said.


    Mr Morgan also said federal-state relations need a shake-up.


    "Substantial change to the current federal model which was designed in the late 19th century."

 
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