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Monday, 9 February 2015
Page: 295

Industry Assistance

(Question No. 677)

Mr Zappia asked the Treasurer, in writing, on 4 December 2014:

In respect of his interview with Fran Kelly on ABC Radio National Breakfast, 2 December 2014, (a) what are the "hard decisions about industry assistance" that he referred to, (b) what industries have been affected by these hard decisions, and (c) did the Minister for Industry have any involvement in making these hard decisions.

Mr Hockey: The answer to the honourable member's question is as follows:

(a) to (c) The Australian Government ended unsustainable assistance to specific firms and industry sectors. Such assistance undermines productivity and economic growth. Instead, the Government is creating an economic environment that promotes investment and entrepreneurship, while assisting small to medium enterprises gain the capabilities and information they need to take advantage of new opportunities.

Details of the Government's industry policies are contained in the Industry Innovation and Competitiveness Agenda, released by the Prime Minister on 14 October 2014; and in the Minister for Industry's press release of 13 May 2014, Building a globally competitive economy.