A "key focus" of the forthcoming financial system inquiry "will be addressing the long term challenge for our nation to sustainably fund its economic growth," the treasurer, Joe Hockey, said in a speech to the Centre for Independent Studies on Friday.His emphasis on this point may disappoint those in the industry angling for competition issues to be bought to the fore, while also fanning suspicion that a major theme will be how to direct superannuation savings to favoured causes."The last financial system Inquiry, the Wallis inquiry, was held 16 years ago. There have been dramatic changes in financial services since then," Hockey said in his first substantive public comments on the Inquiry since the election two months ago."Whilst our regulators, the Reserve Bank, APRA and ASIC, have served us well, it is always prudent to have a look at how we can do better," he said. "That however is not the main driver for the Inquiry. The GFC exposed Australia's vulnerability to offshore financial shocks. We must seek to prepare ourselves for the challenges that lie ahead."Accordingly, a key focus of the Inquiry will be addressing the long term challenge for our nation to sustainably fund its economic growth."Moreover, we must recognise and prepare for a new era of global technological and regulatory change in financial services that will influence stakeholder behaviours. We can either allow ourselves to become victims of change or else we can build the financial infrastructure that helps us benefit from that change."Hockey reiterated that he will release the draft terms of reference for the Inquiry before the end of the year."But I can tell you now that they will be broad. This will allow the Inquiry to chart a course for the financial system over the next decade and beyond."In addition, "to maintain certainty while the Inquiry is underway, there will be a moratorium on significant new financial sector regulation," he said.