Ms SACILOTTO - 2008-05-07
Budget 2008-09 delivers for Territory families. What is Budget 2008-09 doing for Territory businesses?
ANSWER
Madam Speaker, I thank the member for Port Darwin for her question. Yes, it is true, Budget 2008-09 delivers for families and delivers for business. Our budget does the four fundamental things that business needs: cuts taxes, reduces red tape, spends up big on infrastructure, and invests in those things that business needs to expand and grow.
The reduction in payroll tax fulfils our 2005 election commitment. It means there will be more jobs for Territorians, more jobs for business. The reduction in stamp duty is also welcomed by businesses. The reduction applies to commercial as well as residential transactions. Most importantly, these reductions will put more money into Territorians’ pockets so they will spend on necessities for their families that they need.
Budget 2008-09 ensures that the Territory remains the lowest-taxing jurisdiction in Australia for small to medium businesses up to 100 staff. The budget also provides a record infrastructure spend of $870m. I recall when we first came to government and we were fighting in Cabinet, over where we were going to get the money to mow the grass on the side of the Stuart Highway, because I had $6m for repairs and maintenance and it was spent by October. There was $100 000 left and I still had nine months to go. We had big fights with my colleague, the Minister for Health, over who would get some of the spoils so we could deliver for Territorians. We have delivered $4.3bn since we came to government - a significant amount of money.
Madam Speaker, my department, DBERD, receives $26.7m from the budget. It provides all the essential services to business. It will provide Territory Business Centres, business information and licensing services, business growth, seminars, and October Business Month. We will provide $300 000 for the regional economic development fund; $600 000 for the Indigenous Business Development Grant program; continue the original Economic Development Committee - member for Katherine, very important for you - with an extra $300 000 to support the committees; $300 000 for Industry Development Grants to support Territory businesses; $1.2m to support peak industry bodies; $250 000 to promote and profile the Territory Defence industry to Defence contractors; and a new initiative of $150 000 to expand the business skill migration settlement program to Central Australia. In Central Australia, the new mines need steel workers, and we are putting the money in place in Alice Springs to assist Central Australia to get the skilled workers from wherever we can.
The government will also fund $350 000 to support business innovation in the Territory, including ongoing grant programs. My Land Development Corporation receives $2.2m to continue the fantastic job they are doing at the Darwin Business Park, to develop strategic industrial land. Also, $1m for Desert Knowledge Australia and Desert Knowledge CRC has been secured from this year’s budget.
Madam Speaker, as you can see, the government is spending big and delivering for Australians, for Territory families and Territory business.
ANSWER
Madam Speaker, I thank the member for Port Darwin for her question. Yes, it is true, Budget 2008-09 delivers for families and delivers for business. Our budget does the four fundamental things that business needs: cuts taxes, reduces red tape, spends up big on infrastructure, and invests in those things that business needs to expand and grow.
The reduction in payroll tax fulfils our 2005 election commitment. It means there will be more jobs for Territorians, more jobs for business. The reduction in stamp duty is also welcomed by businesses. The reduction applies to commercial as well as residential transactions. Most importantly, these reductions will put more money into Territorians’ pockets so they will spend on necessities for their families that they need.
Budget 2008-09 ensures that the Territory remains the lowest-taxing jurisdiction in Australia for small to medium businesses up to 100 staff. The budget also provides a record infrastructure spend of $870m. I recall when we first came to government and we were fighting in Cabinet, over where we were going to get the money to mow the grass on the side of the Stuart Highway, because I had $6m for repairs and maintenance and it was spent by October. There was $100 000 left and I still had nine months to go. We had big fights with my colleague, the Minister for Health, over who would get some of the spoils so we could deliver for Territorians. We have delivered $4.3bn since we came to government - a significant amount of money.
Madam Speaker, my department, DBERD, receives $26.7m from the budget. It provides all the essential services to business. It will provide Territory Business Centres, business information and licensing services, business growth, seminars, and October Business Month. We will provide $300 000 for the regional economic development fund; $600 000 for the Indigenous Business Development Grant program; continue the original Economic Development Committee - member for Katherine, very important for you - with an extra $300 000 to support the committees; $300 000 for Industry Development Grants to support Territory businesses; $1.2m to support peak industry bodies; $250 000 to promote and profile the Territory Defence industry to Defence contractors; and a new initiative of $150 000 to expand the business skill migration settlement program to Central Australia. In Central Australia, the new mines need steel workers, and we are putting the money in place in Alice Springs to assist Central Australia to get the skilled workers from wherever we can.
The government will also fund $350 000 to support business innovation in the Territory, including ongoing grant programs. My Land Development Corporation receives $2.2m to continue the fantastic job they are doing at the Darwin Business Park, to develop strategic industrial land. Also, $1m for Desert Knowledge Australia and Desert Knowledge CRC has been secured from this year’s budget.
Madam Speaker, as you can see, the government is spending big and delivering for Australians, for Territory families and Territory business.
Last updated: 09 Aug 2016