FEDERAL Parliament's Northern Australia Committee will hold two public hearings in Canberra on Thursday, 19 October and Friday, 20 October 2017 as part of its Inquiry into Opportunities and Methods for Stimulating the Tourism Industry in Northern Australia.

As part of this inquiry, the Committee is examining the impact of tourism on the economy of Northern Australia including how infrastructure investment can facilitate a sustainable tourism industry and have a lasting spill-over benefit for the greater economy.

Flight services and travel routes are vital to narrowing the distances between tourist destinations in Northern Australia as well as transporting goods at a faster rate. For international tourists and visitors, undertaking a flight bound for Australia often forms their first impression of Australia, and so has an impact on the overall tourism experience.

‘The Committee is eager to learn more about how Austrade is increasing tourism investment under the Australian Government’s Tourism 2020 strategy, especially through the Tourism Major Project Facilitation Service‘ Committee Deputy Chair, the Hon Warren Snowdon MP stated.

‘Easily accessible, affordable and reliable flight connections have long been a point of discussion for those who live and work in Northern Australia, and for tourists, can either make or break the tourist experience. The Committee is pleased to be able to discuss what is being done to improve flight services and routes within and to Northern Australia into the future.’ Mr Snowdon said.

Public hearing details: 

Thursday, 19 October 2017
Committee Room 1R6, Parliament House, 8.45 am to 9.45 am.

Friday, 20 October 2017
Committee Room 1R2, Parliament House, 10.00 am to 12.45 pm.

The proceedings will be broadcast live (audio only) at aph.gov.au/live.

Further information about the Committee’s inquiry, including submissions and the terms of reference, is available on the Committee’s website.

Interested members of the public may wish to track the committee via the website. 

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JOBS for NSW chairman David Thodey will join television personality David Koch and a diverse audience from the finance sector at an event today to address the widening gap in the market for accessible finance for fast-growing businesses.

Jobs for NSW CEO Karen Borg said the Mind the Gap: accessible, affordable finance for scaling business event, to be held at The Mint in Sydney on 12 October, will bring together finance industry leaders to raise debate about the growing need for entrepreneurial capital.

“Funding fast-growth SMEs at the right time, with both public and private sector funding, is essential to the long term success of the NSW economy,” Ms Borg said.

“Government has a role to play and that is not to compete with traditional lending institutions but instead to meet the market where there are gaps in funding support.

“Funding options are growing in diversity in NSW and Australia – more and more VCs are around, and we see more equity and debt coming in to the market.

“However, many of these can only lend up to a certain amount and must charge a level of interest to run commercially.

“This is where there is a role for government to support fast-growth businesses – and why Jobs for NSW is offering grants, loans and loan guarantees.

Ms Borg said the event would feature discussion between David Koch and David Thodey, followed by a panel conversation focused on supporting scaling businesses who need a greater quantum of capital in order to scale.

“The panel conversation will be led by Mr Koch will include myself, David Phillips, Head of Investec Emerging Companies, Investec and Kontented CEO Kate Edwards.

Deputy Premier and Minister for Small Business John Barilaro said Jobs for NSW is targeting high-growth SMEs with three new loan products ranging from $200,000 to $1.2 million to provide emerging businesses with capital to grow and drive job creation across the State.

“The three new loan products will be a major boost to fast-growth business in metropolitan and regional areas,” Mr Barilaro said.

“The loans will address barriers NSW businesses face in accessing affordable finance and consolidate the Jobs for NSW loan and grant portfolio.”

Note: Images of David Koch, Jobs for NSW Chairman, David Thodey and Jobs for NSW CEO Karen Borg attached.

www.industry.nsw.gov.au

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THE Queensland Resources Council (QRC) has welcomed the release of the Annual Exploration Program for 2017-18, which includes more than 19,000 square kilometres for gas, minerals and coal exploration.

Chief Executive Ian Macfarlane said Queensland is continuing to lead the way in responsibly developing the resources sector.

“The economics of supply and demand are simple, if demand for gas is strong you need to increase supply to put downward pressure on prices. Queensland’s latest exploration program includes almost 18,000 square kilometres for gas and petroleum exploration, which builds on the state’s advanced gas industry,” Mr Macfarlane said.

“New South Wales and Victoria must follow in the footsteps of Queensland and work with industry to responsibly develop their own gas reserves. Both states were quick to claim that they supported the recommendations of Chief Scientist Alan Finkel’s report, but they have overlooked the recommendation which calls on governments to adopt evidence-based regulatory regimes to manage gas projects.

“We need all state governments to follow the advice of science, not shock jocks and scare campaigns, to underpin the east coast gas market and the jobs that rely on it.”

In total, four gas basins are set for exploration which include the Surat, Bowen, Eromanga and Adavale basins. The exploration program also includes 1100 square kilometers of land for minerals in the North-West Minerals Province and 540 square kilometers of coal in the Bowen and Galilee basins.

“Queensland is home to some of the highest quality coking and thermal coal in the world and over the last four years we’ve set new export records. In the state’s North West there is potential to unearth significant amounts of copper, zinc and gold which are the minerals used in new technologies including batteries, mobile phones and solar panels,” Mr Macfarlane said.

Queensland Exploration Council (QEC) Chair Brad John said investors from around the world would be interested in these new Queensland exploration opportunities.

“There’s nothing like greenfield land releases of premium coal and gas provinces and the world class North West Minerals Province to catch the attention of investors, geologists and explorers,” Mr John said.

In 2015/16 Queensland coal, gas and metal industries contributed $55.7 billion to the state’s economy, supported more than 275,000 jobs and paid $2.2 billion in royalties.

www.qrc.org.au

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MINISTER for Defence Industry, Christopher Pyne MP, has launched the Pricewaterhouse Coopers (PwC) Australia’s report, which outlines the significant economic benefits of naval shipbuilding to South Australia over the coming decades.

Mr Pyne welcomed the report which estimates 8000 new jobs will be created in South Australia, demonstrating the impact of the Government’s commitment to this national enterprise.

“This PwC report illustrates just how beneficial to the South Australian economy the Turnbull Government’s $90 billion Naval Shipbuilding program will be. This is great news for South Australians currently working in the shipbuilding industry as well those wanting to find work within the industry in the coming years,” Minister Pyne said.

“Not only will there be thousands of new jobs as a result of the Government’s $90 billion naval shipbuilding endeavour, but South Australia will be hallmarked as Australia’s key naval construction centre.

“The shipbuilding aspect of programme alone will triple the South Australian workforce and boost Gross State Product (GSP) by $134.4 billion over the next 40 years.”

“The report also states that for every $10 million in expenditure in South Australia directly related to shipbuilding, there is a total of $24 million in additional gross state product,” he said.

“PwC also estimates that the shipbuilding enterprise will deliver a 3.4 per cent increase in South Australia’s total economic activity. In reality this means adding a total new mining industry to the South Australian economy year on year.

“The Turnbull Government is committed to maximising Australian industry involvement in the naval shipbuilding enterprise and as outlined in the Naval Shipbuilding Plan released in May 2017, the continuous naval shipbuilding and sustainment programs will bring long-term employment and economic benefits to all South Australians.

Report link: https://www.pwc.com.au/publications/pdf/defence-briefing-note-oct17.pdf

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