I can start, and perhaps my colleagues will want to add something.
Having a more aligned set of rules for business—and I'm obviously going to respond with respect to the regulatory context—means those businesses can then make their strategic investments with greater predictability because they are working with a single rule set as opposed to multiple rule sets.
As you can imagine, for businesses the more complex the rule environment is, the more difficult it is to innovate, because you have to meet the expectations of different players.
Greater alignment can stimulate innovation because it now frees the system, so that if a best practice emerges in one jurisdiction, I can adopt it because it fits the rule set. I don't have to retailor it for the jurisdiction I happen to operate in.
It can be very liberalizing for the system, and as a result contribute to greater competitiveness, not just in terms of internal trade but also in terms of our competitive position internationally.