Page 1742 - Week 06 - Wednesday, 4 June 2014
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Directorate to undertake a range of upgrades in that transit corridor. As I have indicated, the budget also invests in the new subacute public hospital at the University of Canberra and, of course, makes provision for the Supreme Court precinct.
MADAM SPEAKER: Supplementary question, Dr Bourke.
DR BOURKE: Treasurer, how does this investment grow the economy?
MR BARR: Obviously, through investment in infrastructure comes the creation of jobs in our economy. There are direct and indirect benefits, clearly, from a significant boost to construction activity in the territory. The nature of each of the individual projects that we are supporting leads to ongoing employment and ongoing investment opportunity.
For example, the Canberra Business Council has estimated that the Australia forum could add three-quarters of a billion dollars to ACT gross state product and deliver over a thousand jobs with a long-term goal of trebling the number of conference visitors to Canberra each year. Another government project, capital metro, is estimated to create over 3½ thousand jobs during the construction phase. Similarly, the city to the lake project, with the creation of a new stadium, public aquatic facilities and a range of mixed use commercial and residential developments, will generate thousands of construction jobs and ongoing economic activity.
Through the longer term, we are seeking to build an environment where people want to live, people want to work and people want to undertake their recreation activities—a more vibrant city centre which grows our economy now and into the future.
MADAM SPEAKER: Supplementary question, Mr Gentleman.
MR GENTLEMAN: Treasurer how does this budget support our business community by tempering the impact of the mass sackings from the commonwealth government?
MR BARR: There are a series of specific initiatives in response to the federal budget, particularly developing opportunities through a business program that assists former public servants to enter into the private sector. The youth business connect program aims to assist young entrepreneurs to develop ideas for establishing local businesses. The supporting business fund will help businesses and individuals to obtain professional and strategic business service support. These programs, along with our ongoing allocations in the economic development area will strengthen the private sector and maximise the potential for new job creation.
The government’s support for business is evidenced in the reaction to the budget. For example, the Canberra Business Council said that the ACT budget struck the right balance and very warmly welcomed the funding for the Australia forum. The Chamber of Commerce said that the Treasurer had managed a difficult situation well. I am always pleased to receive the support of the chamber. The Property Council of Australia says there are some very strong positives in the budget, particularly the strong investment in infrastructure which will help create jobs for Canberrans and stimulate the economy.
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