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Legislative Assembly for the ACT: 2002 Week 8 Hansard (25 June) . . Page.. 2207 ..
MR QUINLAN (continuing):
Of course, efficiencies will be expected over the next four years, with the level of funding reducing in the last two years, reflecting efficiencies that have been identified in an independent consultant's report.
Business development
Mr Speaker, the economic white paper will provide a forward-looking strategic approach to the sectors that we should be nurturing and those areas in most need of attention. This is a key document for the territory, one that is essential for us if we are to maintain the vibrancy and standard of living that we all currently enjoy. It is a simple fact that we need sustainable economic growth to do this.It is also worth while to highlight the fact that the white paper will represent a significant first for the territory, reflecting the government's approach to long-term planning, which is in stark contrast to the Liberals' haphazard approach to economic development.
Business programs have been reviewed and restructured in this budget to redirect resources towards areas of growing priority and to prune tired programs. In particular, we have made every effort to ensure support for the key growth theme promoted in last year's election campaign-the ACT's accelerating transition to a knowledge-based economy.
Including all administrative costs and estimated payroll tax exemptions, the government will allocate $44 million in 2002-03 to business-related programs in the economic development portfolio, a significant increase on 2001-02.
The knowledge fund is the centrepiece of our new business initiatives and will address a full range of commercialisation problems for existing businesses and start-up companies that promise technological development and job growth in the ACT.
Mr Speaker, employment growth is a priority for this government. We have allocated $500,000 over two years to assist small businesses to make the leap to employ their first staff member. The obligations that go with hiring an employee can be daunting at first, and the government believes that this initiative will generate up to 500 new jobs.
Mr Speaker, it is important for us that we are seen as a destination of choice for business conventions. Canberra has much to offer. The government is actively pursuing alternatives for the development of convention facilities that would best suit and promote Canberra as a convention destination.
Tourism is also an important industry for the ACT. It directly contributes about $1.1 billion of visitor expenditure to our economy each year. This budget provides additional funding of $200,000 per annum for the national capital education tourism project, a successful program attracting schools to visit Canberra and the ACT as part of their school curriculum.
The capital works program also contains $135,000 to upgrade the Visitor Information Centre on Northbourne Avenue.
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