Page 2315 - Week 11 - Wednesday, 1 November 1989
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Agreements entered into with successful applicants may include projected payment over more than one financial year. Prudential arrangements will be established, which protect the public interest. We will ensure that the program is conducted openly and accountably and that details of assistance provided to companies will be either publicly revealed or, if commercially sensitive information is involved, discussed with party leaders.
All assistance packages will be approved by the Government on the recommendation of an advisory committee comprising representatives from peak industry bodies with relevant financial and business expertise and senior government officials. Assistance will be provided to a business only when it can be demonstrated that the ACT Government will not be duplicating assistance being provided by other ACT or Commonwealth government programs.
The program will be managed and its performance appraised according to the objectives of the program. It will be evaluated on an ongoing basis, and results will be reported in the annual report of the Office of Industry and Development, which will administer the program. The yearly disbursement of funds under the program will be included in that report.
It is proposed that an independent review of the program's effectiveness and management will be conducted during its third year of operation. The industry assistance program will be a key element in the Government's ACT industry strategy, a strategy which will set the direction for future economic and industrial development in the Territory, a strategy that sees us encouraging continued investment in employment-creating industries in the ACT.
This Government is committed to sound, sustainable economic development while at the same time adhering to the principles of social justice. It is our belief that the industry assistance program will attract businesses which will diversify the ACT's private sector and thereby the Territory's employment and revenue base. The program will build on the ACT's strengths as a regional and national growth centre for particular industries and promote the international competitiveness of ACT business through enterprise improvement. I look forward to reporting on the success of the program in this Assembly next year.
I present the following paper:
Industry assistance program - Ministerial statement, 1 November 1989
and move:
That the Assembly takes note of the paper.
Debate (on motion by Mr Kaine) adjourned.
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