Thank you Prime Minister.
Ladies and gentlemen, 211 years ago Captain Arthur Phillip sailed into what he described as "the finest Harbour in the world" aboard his flagship, HMS Sirius. He chose Sydney Harbour over our neighbouring Botany Bay because of its protection from the strong seas, its robust soils and its ready supply of fresh water.
The colony Arthur Phillip started was built around the Sydney Tankstream. To the east was the seat of Government and to the west commerce grew including an early shipbuilding company just around the corner from here.
This tankstream became the living heart of Sydney's first settlement.
Ladies and gentlemen, the Tankstream flows directly beneath this building and above the Tankstream today we begin a new chapter in Australia's commercial history.
Today is not just the official launch of a new building grand and futuristic as it may be. It is also a celebration of the movement of commerce in and around this building which is generated by the Australian Stock Exchange itself.
Share trading began in Australia in 1829 and the Exchange has been at the centre of Australia's economic development, in one guise or another, since 1871.
During that time it has played a role in the birth and development of many household names, from AMP to AWA and from Westpac to West Oil, providing a place where business and capital could transact with confidence that the stream of commerce would never stop running.
Of course when you think of the rich history of the Exchange ranging from the booms and busts of the 1890's , the Depression of 1930s, the second mineral boom of the 70s, the colourful 80s and the global 90s, one cannot help but think that Australia's most famous tankstream has witnessed all the twists and turns of our young and vibrant nation.
What sets today's market aside from its rich history is the large number of everyday Australians who directly own shares. Australians have embraced share ownership in their numbers.
I am proud to be a Minister in a Government that provides opportunities such as the sale of Telstra for Australians to invest in.
And I am proud to be a member of the Government that abolishes stamp duty on the transfer of shares, halves capital gains tax, reduces company tax to only 30% and nurtures Global investment in Australian innovation and manufacturing with generous incentives for venture capital.
These initiatives will see Australia become the greatest share owning democracy in the world.
This building will proudly bear witness to this landmark development.
Ladies and gentlemen, it is an enduring achievement of the Australian Stock Exchange that it has created a facility here that is focused on serving the needs of everyday Australians.
This grand centre is focused on giving people from all walks of life easy access to real time information that measures the health of our modern tankstream, the capital markets.
I take particular pride in opening this building because over seventy years ago my great grand mother used to sit in the exchange with her binoculars and trade stocks like BHP, Burns Philp, Waltons, CSR and Selfridges.
She would be proud not only of the wonderful new building and its facilities but of the number of women and particularly young women now trading in shares.
Ladies and gentlemen, today's capital markets disregard history and traditional borders in a way that 10 years ago could never have been envisaged.
Australia stands well prepared for the challenges of tomorrow. Global partnerships providing centres of liquidity are the future but they must be emboldened and nurtured by a supportive Government. So I can report to you that
We have fiscal policy right.
We have monetary policy right.
We have the tax system right.
Our IT& T and education system are world class.
And our regulatory environment is recognized globally as first amongst equals.
However the reform must continue in an ever changing world. With your support, the partnership between a co‑operative and vigilant public sector and a free and independent market must continue in the same way that the tankstream was the central feature in the development of old Sydney town.
Ladies and gentlemen long may the tankstream below this building flow and long may global capital stimulate our nations economy through this market.
Accordingly I declare this building, the flagship in our Global financial centre fleet, officially open and let the trading for the prosperity of all Australian's commence.