Legislative Assembly for the ACT: 1993 Week 06 Hansard (Thursday, 20 May 1993) . . Page.. 1712 ..
MINISTER FOR THE ARTS
LEGISLATIVE ASSEMBLY QUESTION
QUESTION NO. 681
Earnback Scheme for Artists
Mr Cornwell - asked the Minister for the Arts
Does the ACT Government have any plans to introduce a guaranteed minimum income "earnback" scheme for writers and other artists similar to that announced by the Australia Council in January 1993; if so, when and if not, why not.
Mr Wood - the answer to the Members question is as follows:
(1) The Australia Council has established its investment (earnback) scheme and is willing to consider a range of investment and income substitution proposals from artists and arts organisations. A guaranteed minimum income proposal is one of many the Council is willing to consider.
The Council is considering investing up to 50 of its grant funds in the earnback scheme in the first year. Council acknowledges that this is a high risk enterprise: it does not have any clear expectations of when the money will begin coming back; there is no set rate of return; in certain instances Council may be happy with 30 cents to 50 cents in the dollar being returned.
The artistic integrity of the project remains the central tenet of successful proposals, regardless of return on investment.
The ACT Government does not propose introducing a similar scheme in the near future as there are insufficient funds available for such an untried enterprise. However, we will watch the Australia Councils work in this area with considerable interest. I also note that the ACT Cultural Council
,.; has announced-its intention to investigate new
opportunities; including different funding
mechanisms, for support for local cultural