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Legislative Assembly for the ACT: 1997 Week 4 Hansard (6 May) . . Page.. 1002 ..

Mr Berry: And there is more - Demtel.

MRS CARNELL: And there is more, Mr Berry! The success of the business incentive scheme can be measured by the 700 real jobs that are expected to be created and the estimated $37m of investment that will occur over the next three years under agreements already reached. To date 19 companies have been supported under the scheme. Most are local firms. Discussions are continuing with a number of other investors and businesses with the potential to realise a further 2,000 jobs and more than $180m in investment.

This Government makes no apology for getting out there in the marketplace and aggressively targeting innovative, advanced and high-technology firms that are interested in relocating to Canberra or expanding here in the national capital. To attract more investment and jobs, an additional $544,000 will be invested in the business incentive scheme, bringing the total funds for 1997-98 to $1.25m. Mr Speaker, we will keep our promise to local industry to lift the payroll tax threshold to $800,000 from 1 January next year, directly benefiting small- and medium-sized businesses. From that date, all ACT companies liable for payroll tax will be paying at least $13,000 a year less than firms just across the border in New South Wales. No other State or Territory will have a higher threshold.

Mr Speaker, the third key aim of this budget will be to more aggressively market and promote Canberra as a tourism destination, to attract new major tourism and sporting events and to expand on existing ones. The new Canberra Tourism and Events Corporation was established by the Government to do just that, with responsibility for marketing and promotion and also the management of major events such as Floriade, the Canberra Rally and the Australian Science Festival. With more than $300m in visitor investment and almost 10,000 full- and part-time jobs supported by visitor activity, tourism makes an enormous contribution to the Government's plans to revitalise the ACT economy. This Government, however, unlike its predecessor, is not prepared to just talk about putting this city on the map but stands ready to back the corporation with significant new funding.

From the $4.5m Jobs Fund, $350,000 has been set aside for a New Canberra Events Fund, bringing to $900,000 the total amount that will be available in 1997-98 for attracting new events to the ACT. In addition, the Government will inject $500,000 into a comprehensive strategy to promote our business, tourism, sporting and cultural strengths in this city. These funds will be enhanced through partnerships with the private sector. This increase of $850,000 demonstrates to the tourism industry and Canberrans that we are serious about promoting the national capital.

Mr Speaker, this Government has worked tirelessly to achieve enormous reforms in the way our health and community services are delivered. In just over two years, we have painstakingly transformed a system that was in crisis to a point now where the benefits of these changes are beginning to flow through to patients, to carers and to staff themselves. This budget will consolidate these reforms and provide for a range of new and expanded government and community services, particularly for families, the elderly, people with disabilities and those suffering a mental illness.

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