employment - led economicgrowth can be achieved. as recently emphasized by the imf, however, a success of this policy requires that structural reforms in various areas such as the labor market, industry and finance should be implemented in harmony. i look forward to a variety of insightful ideas being proposed here today and tomorrow, through enthusiastic discussions and constructive sharing of opinions among conference participants. i hope that the ideas proposed here will lead to tangible outcomes. thank you. bis central bankers ’ speeches

we ’ re not stopping at that. to demonstrate our commitment to transparency and accountability, and to recognise the contribution operational effectiveness makes to uk competitiveness, the pra earlier this year enhanced the authorisations metrics we publish : we increased the frequency of reporting ; we provided additional information on the time taken to determine cases ; and we broke down metrics by type of firm. as important as this transparency is though, it is equally important to bear in mind that metrics can never tell the full story about firms ’ experience engaging with the authorisation process. one additional dimension that is particularly important, and difficult to measure, is the ability of firms to speak directly to experienced staff within the pra. to allow firms to navigate issues, they need to be able to engage in open dialogue with staff at the pra who deeply understand the regimes and the issues facing industry. but while we strive to hit all of our operational performance targets, that can only come through efficiency and proportionality. because we cannot compromise on the quality of assessment and decision - making that supports our primary objective to favour a faster assessment. we are working closely with colleagues at the fca to continue to evolve our operations. this was also acknowledged in a speech by nikhil rathi, chief executive of the fca, last month [ 10 ], and it will ensure confident and consistent financial services regulation in the united kingdom. as an example of an efficiency improvement, we are reviewing and updating the online forms firms use to make authorisation applications. in particular, the updated forms for senior manager applications are going live for pra firms in the next couple of months. this should make it quicker and easier for firms, as well as help us capture and process the information we actually need [ 11 ]. we also have an ongoing internal project to streamline transactions and ensure we are applying proportionality at all stages. we have made a number of refinements over the past year to cut back processes and simplify decision - making, without compromising the quality of assessment, and we will continue challenging ourselves on this. much of that will not be directly visible externally, but you should continue to see the benefits of it reflected in our published metrics. and we also intend to review our public - facing information to ensure that guidance, support, and information on the authorisations function is clear, easily accessible, and there when you need it. making it all easy to navigate. and that includes increased industry engagement in the