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A central element that underlies the Government's strategy is our determination to build a partnership between the public sector, business and the community that is fundamental to sustained economic development, while at the same time maintaining Canberra's high-quality environment. There are, of course, reciprocal obligations on both the business community and the Government. To grow, businesses must have innovative leadership that is able to respond to changes in the marketplace and continually seek new opportunities. They must be willing to work with government to cooperatively develop our industry base. Governments have a role in setting the broad economic direction and providing a competitive environment. Governments must aid, not hinder, business growth.

As part of our aim to improve the relationship with the private sector, we moved quickly to implement one of our important election promises and established the Business, Employment and Tourism Bureau. What we promise, we deliver. The bureau incorporates the previous Economic Development Division, including Canberra Tourism. The bureau has prime responsibility for working with the private sector to better promote and encourage business and tourism development. It has responsibility for a number of the Government's key business activities, such as ACTTAB, EPIC, Totalcare and the Milk Authority. It is also responsible for the Government's involvement in joint venture land development. These new arrangements enable a more effective and efficient implementation of government policies without increasing the number of senior executives. Like functions have been grouped and duplication has been eliminated. There will be a changed focus within the bureau, with a proactive approach to working in partnership with business.

In addition to the new structure, Mr Speaker, we also recognise that the forms of assistance to business need to be expanded. We have already started to implement key initiatives from our election policy to establish a climate that encourages business expansion. You have already heard the Chief Minister outline the actions we have taken to establish a systematic review by agencies of all legislation and regulations. Today I will outline a comprehensive three-pronged approach to reviewing business regulation.

Under the national competition policy agreement that the ACT recently became a signatory to, we have an obligation to undertake a comprehensive review of all legislation and regulations in order to eliminate any that unjustifiably hinder competition. The ACT Liberal Government not only welcomes this approach but has extended it to a systematic examination of all legislation and regulations that might impose unnecessary burdens on business. The Government will require agencies to develop a timetable to review all legislation and regulations impacting on business. This review will be undertaken progressively, but well ahead of the year 2000 deadline agreed by COAG. We will ensure that those regulations which are of greatest concern to business get reviewed at an early stage.

Another one of our election commitments that we have moved to introduce immediately, Mr Speaker, is the requirement that all new regulatory proposals affecting business and industry be subject to a business impact statement. The business impact statement will also be used in the systematic review of existing legislation and regulations so that a uniform approach is adopted. We will be putting the heat on government agencies to justify all existing and future regulations.

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