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Legislative Assembly for the ACT: 1996 Week 4 Hansard (16 April) . . Page.. 949 ..

MR DE DOMENICO (continuing):

tourism infrastructure, to capitalise on the outstanding potential for economic growth that this sector offers: $737,000 to initiate the redevelopment of the Kingston foreshore, and we are looking forward to the committee deliberating on that issue so that we can go ahead and do it; $1.85m to upgrade the Visitor Information and Interpretive Centre on Northbourne Avenue; $250,000 for further investigations of transport infrastructure options on the Sydney-Canberra corridor, including high-speed rail.

We have also provided targeted assistance to those industries that have great potential in terms of expanding our export base by expanding the industry assistance package by $850,000, aimed at assisting business to expand or locate in the ACT. In February, I announced the establishment of the ACT business incentive scheme, ACTBIS. ACTBIS brings together two existing assistance measures, financial grants and direct land grants, along with two new measures, tax concessions and work force development assistance, to provide a comprehensive scheme. Along with the financial grants, expanded in the 1995-96 budget, ACTBIS provides a mechanism not only to help local firms expand and create jobs but also to attract national and international investment. We have provided an additional $125,000 for continuing improvements in advisory and planning services for business, particularly small business - the very people we represent and will continue to represent strongly. We also provided support to the CeBIT 96 information technology and telecommunications trade exhibition, which was held in Hanover, Germany, from 14 to 20 March this year. The ACT was represented by a group of nine local companies and organisations. Results achieved by ACT companies have been estimated by the companies at $6.2m in immediate and potential sales over the coming 12 months.

Mr Speaker, significant priority has also been given to developing a conducive business environment. We have already begun implementing the recommendations of the Red Tape Task Force - another election commitment delivered - to reduce areas that appear to impose significant or unnecessary burdens, cost or disadvantage on business. We are currently developing a systematic review of all legislation and regulations over the next two years, again aimed at ensuring that no unnecessary burdens are placed on business. Similarly, we are well advanced in re-engineering the processes in the planning and land development area towards a more seamless approach to client requirements as a response to the Stein inquiry, the Mant/Collins review and the Red Tape Task Force. These initiatives represent a commitment of over $5m new funding to encourage and develop Canberra's private sector. We have also maintained a commitment to labour market programs of $1.56m, which is broadly in line with the forward estimates. The Government has also sought to decrease the financial burden on the small business sector by increasing the payroll tax threshold to $600,000, and there will be more initiatives along these lines in years to come.

The Commonwealth Government's announcement of the establishment of an Office of Small Business within the Department of Industry, Science and Tourism will complement the initiatives this Government has taken to help business to get on and do business. Two major initiatives of the coalition Government, for example, in this area are the convening of a small business summit in June and the creation of a small business deregulation task force to look at Federal imposts on business. Can I say also that, in discussions with the Minister for Small Business, Geoff Prosser, he has been very encouraged by the Red Tape Task Force report and may take on board some of those

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