Page 283 - Week 01 - Thursday, 12 February 2015
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There have been, of course, some tangible outcomes for the city in recent times, with a new investor acquiring the Canberra casino, for example, and making a commitment for long-term sponsorship of the Brumbies as part of a longer term commitment to Canberra. We have also seen investors out of South-East Asia recently participate in a number of ACT government land auctions and acquire land. The Campbell 5 development is another example there.
There are opportunities in the future for new investors from a variety of different locations nationally and internationally to invest in Canberra. We will continue to seek that investment.
MADAM SPEAKER: A supplementary question, Mr Doszpot.
MR DOSZPOT: Minister, what is the value of all of these deals?
MR BARR: Measured in revenue to the ACT government or in overall economic impact, these would differ, depending on the nature of the investment and whether the investor was purchasing land from the government or, in the instance of the casino acquisition, for example, purchasing off another private owner. I am also aware that, through our cuts to the top rate of commercial stamp duty, a number of significant privately owned commercial properties in the territory have changed hands and that has led to significant new investment in the territory economy as well as revenue to the government.
MADAM SPEAKER: A supplementary question, Mr Smyth.
MR SMYTH: Minister, does the government count completion of preliminary Austrade requests for market information as a lead?
MR BARR: I will need to take that detail on notice. I will observe, though, that we do work closely with Austrade and, indeed, we have participated in a number of—for want of a better description—“team Australia” approaches to international markets, in particular investment segments that are relevant to the territory. We will, of course, continue to take the opportunities that our partnerships with the national government and, indeed, with other states and territories can provide the ACT.
MADAM SPEAKER: Supplementary question, Mr Smyth.
MR SMYTH: Minister, are leads qualified only when a potential investor visits the ACT and has conducted meetings facilitated by Invest Canberra?
MR BARR: Physical attendance in the ACT I do not believe would be necessary. I think it is possible to communicate with potential investors using means other than physically having to come to the territory; they are able to communicate with the Invest Canberra team through other means. So I would expect that you could reasonably conclude that discussions with investors can take place other than face to face.
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