Page 484 - Week 02 - Wednesday, 19 March 2014
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There are, of course, not just benefits to public investment in infrastructure. As other speakers have alluded to the award winning $480 million redevelopment of the Canberra Airport is a prime example of private sector investment in infrastructure that is driving job creation and growth in the territory. The new 55,000 square metre terminal has expanded check-in facilities, greater security, lounges and retail and hospitality areas and is an investment in improving Canberra’s competitiveness to help attract international flights and increase tourism and investment.
The government has commissioned a recent study by Independent Economics to estimate the value of direct international flights to Canberra. This study has confirmed economic benefits for Canberra and the surrounding region of more than $100 million annually. This would be on top of the tourism sector’s existing contribution to our local economy, which is currently in the order of a $1.65 billion a year and 16,000 jobs. This is a very clear indication of why supporting the introduction of direct international flights is a priority for the government and for the airport.
The airport, though, is just one example, and the government is actively pursuing a range of investment opportunities through Invest Canberra, the newly established dedicated investment facilitation body to facilitate and attract companies and investors to undertake business in Canberra.
The combination of government investment and public infrastructure and facilitating private investment is the pillar that will underpin our job growth and sustainable economic growth now and into the future. It is important to recognise, as I have indicated in this place on a number of occasions, the need for the territory to be able to attract investment of national and international partners. Our economy is simply too small to be able to sustain the level of growth that we have experienced in recent times without new investment coming nationally and internationally.
The commonwealth government is going to significantly withdraw expenditure from the territory economy. The Liberal Party is determined at a national level to mug this economy. There is no doubting that, and all of the talk around the federal bureaucracy is of difficult times ahead.
The government’s response at a local level is to ensure that we are engaging with national and international infrastructure partners to secure new investment for this economy. The government locally also has a role to play in relation to our own infrastructure program. The simple point is: if we do not play that role and if we do not seek to secure new investment into our economy, our economy will shrink because there is no one else to make that investment. That is why the government is focused on the policy directions it has outlined and will continue to outline particularly through 2014-15 budget.
MR GENTLEMAN (Brindabella) (11.04): I rise today to speak in favour of this motion. The motion demonstrates the government’s support in many areas of development and infrastructure around the territory. It shows that the government is committed to the advancement of renewable energy, health and urban development.
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