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Legislative Assembly for the ACT: 2004 Week 05 Hansard (Tuesday, 4 May 2004) . . Page.. 1746 ..

There are 47 actions in the white paper, each linked to the four strategic themes—actions the government has firmly committed to implement. A number of key actions have already been progressed. Others are included in this budget.

Mr Speaker, I am delighted to announce that the budget will provide $14.4 million in new funding to implement key economic white paper actions under the supporting business strategy.

This will be directed principally at extending and enhancing the suite of enterprise development programs on offer to the territory’s companies and institutions. Funding is provided to the knowledge bank—$8 million over four years—and to a range of programs to help grow burgeoning enterprises and export potential.

Since its inception, the knowledge fund has provided grants totalling $4.2 million to 73 territory businesses, leveraging a further $18 million in business investment and creating 415 jobs.

Other initiatives embrace a range of support and encouragement to innovation and enterprise. These include mentoring services, an export growth program, the small business employment ready program, a business acceleration program and participation in the Australia-wide industry capability network.

An office of film, television and digital media will be established, as will the office of small business commissioner.

These are strong and tangible messages of commitment to our business community, and in particular to our 20,000-plus small businesses which form the backbone of the territory’s private sector.

The government has already brought forward legislation to implement commitments in the economic white paper. They include the establishment of a commercialisation fund to attract investment capital and commercialisation skills to the ACT, and a grant of $10 million to the University of Canberra to support the construction of new facilities in the school of health sciences.

The government’s overriding objective is to create a dynamic business environment that supports and encourages innovation and capitalises upon the competitive advantage embodied in our companies, institutions and people.

Government programs, and the stimulus and direction they provide, are an integral part of this overall environment.

Tourism

Mr Speaker, tourism is a significant and growing contributor to the ACT economy. As noted in the economic white paper, around 1,000 local businesses and around 11,000 local jobs are sustained by tourism activity in our economy.

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