Page 1409 - Week 05 - Tuesday, 13 May 2014
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
Last week both Mr Hanson and Mr Coe made their views known on infrastructure investment and disputed the value of infrastructure investment, and in particular disputed the value of investment in transport infrastructure. The government’s view is that we can play a significant role in mitigating the peaks and troughs that occur in our economy.
Mr Hanson interjecting—
MR BARR: You said that light rail would generate no economic benefit for the territory. When I stood next to you, you indicated your support, Mr Hanson, for tax reform of the Henry tax review kind. That was an interesting change in position. However, I digress.
The government can play a significant role in mitigating the peaks and troughs that occur in the economy. Frankly, the last thing that this city needs now is to be hit doubly by both the federal and territory governments cutting deeply. There are important signs of resilience in our economy, particularly in our private sector. I think this gives us cause for optimism and shows that government investment and diversification of our economy can yield results.
Examples that we can point to include the announcement last week of IKEA’s investment in our economy and of the Academy of Interactive Entertainment looking to invest nearly $50 million to extensively redevelop its campus in Watson. We can look to the outcomes and the early indications from entry 29, our start-up incubator, that have seen 100 per cent growth in the past year. We can, of course, look to the future in relation to the airport precinct and their master plan indicating a desire to grow the workforce precinct there from 11,000 to 18,000. We can look to the words of our local business community and their leaders, represented through Andrew Blythe and Chris Faulks from the chamber of commerce and the Canberra Business Council respectively. Mr Blythe has indicated:
We are a lot stronger and more diverse—
than in 1996—
The next 12-18 months will be tough but we will come out the other side, I think, a lot stronger than even today.
And Chris Faulks has said:
The economy is more mature, the private sector is more robust and mature and we have a lot more businesses that sell goods to the rest of Australia and overseas.
That is true. The value of international exports out of the ACT since this government has been in office has increased from $774 million to $1.3 billion. It has been growing faster than the national average. We recognise the importance of continued investment in our economy at this time, particularly through major infrastructure projects such as city to the lake and the convention centre. It is, of course, extremely disappointing that the commonwealth have ruled out any support for the convention centre in this budget.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video