Page 1183 - Week 04 - Thursday, 21 March 1991
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information technology, will assist the ACT information technology sector's further development. I welcome the Commonwealth's pledge to provide $50m nationally for employment and training assistance. The ACT's share of this $50m will provide a significant number of additional prevocational places, primarily through the ACT Institute of TAFE. This will particularly benefit the ACT's young people and, therefore, complements the Alliance Government's concern with the needs of youth.
The Government also welcomes last week's announcement by the Commonwealth that two ACT-based proposals involving both the ANU and the CSIRO have been accepted under the 1990-91 cooperative research centres program. This is a positive recognition of ACT expertise, and represents new jobs and injects additional funds into the ACT. In addition to the funding that these centres will attract from the Commonwealth, the ACT has agreed to provide assistance in both cash and kind this financial year. The ACT Government will continue to look for ways to support these kinds of initiatives. I especially welcome the industry connections which are a particular feature of this program.
As a further response to the prevailing economic downturn, the Government has decided to provide local businesses with greater access to specialist professional assistance. Firstly, the Government is setting up a referral service aimed particularly at small businesses which are feeling the full impact of the current national downturn and are perhaps facing bankruptcy.
A network of specialist advisers from the private sector have indicated their willingness to participate voluntarily in such a scheme. I believe that there will be significant benefits to small business from this initiative. Secondly, during these particularly challenging times the Government believes that it is appropriate to ensure that a broader range of small businesses have access to affordable relevant professional advice. The Government will establish a program to be run over the next 12 to 18 months to facilitate this access. This advice will aim to ensure that businesses which are struggling in the present economic climate will have every opportunity to reach their maximum potential.
As I announced in the Assembly on Tuesday in relation to the section 19 development project, there is now a specific offer of finance for a conforming proposal. The Government has, therefore, decided to grant a further 28 days to allow negotiations to be completed. If these negotiations are successful it will, of course, mean a major boost to the ACT's construction and tourism sectors.
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