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Legislative Assembly for the ACT: 2006 Week 10 (19 October) . . Page.. 3334..

MR STANHOPE (continuing):

Interstate Investment Cooperation Agreement—Intergovernmental Agreement, dated 30 March 2006.

I ask leave to make a statement in relation to the paper.

Leave granted.

MR STANHOPE: Mr Speaker, I table the Interstate Investment Cooperation Agreement for the information of members. The ACT recommitted to the Interstate Investment Cooperation Agreement for a period of five years at the states only ministerial council meeting in March 2006.

The agreement carries forward the commitment of all signatories that were a party to the previous Interstate Investment Cooperation Agreement, being all states and territories except Queensland. The previous agreement has been in effect since 2003 and expired on 4 September this year. The recommitment of all signatory states and territories will see the agreement continue for a further five years from 5 September 2006 until 4 September 2011.

While all participating jurisdictions supported the agreement at the ministerial council meeting in March, the formal signing of the agreement by Tasmania was delayed due to the timing of the meeting coinciding with the caretaker period preceding their state elections.

The purpose of the agreement is to encourage the cooperation of participating jurisdictions towards reducing the incidence of financial inducements being offered to businesses to relocate between jurisdictions where there is no net national economic benefit; in other words, so that we are not bidding against each other for businesses.

As part of the agreement, the ACT and all other participants provide annual reports on the amount that was committed to investment attraction activities in the financial year. These reports are compiled each year by Victoria and tabled annually at the states only ministerial council meeting. I commend the paper to the Assembly.

Cultural Facilities Corporation

Paper and statement by minister

MR STANHOPE (Ginninderra—Chief Minister, Treasurer, Minister for Business and Economic Development, Minister for Indigenous Affairs and Minister for the Arts): For the information of members I present the following paper.

Cultural Facilities Corporation Act, pursuant to subsection 15 (2)—Cultural Facilities Corporation—quarterly report 2005-2006 (1 April to 30 June 2006.

I ask leave to make a statement in relation to the paper.

Leave granted.

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