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Thursday, 14 September 1972
Page: 1395

Mr SPEAKER -Is leave granted? There being no objection, leave is granted.

Mr McMAHON - The Government has decided in principle to extend export incentives beyond 30th June 1973, the date on which legislation providing for these incentives expires. The existing incentive scheme has been under review and details of the new scheme will be announced as soon as practicable. It is the intent of the Government that the benefits under the new scheme will be comparable in nature and scope to those under the existing scheme.

The Government is aware of the need for an early and positive statement of its intentions when the current scheme expires. Otherwise, doubts and uncertainties could arise in the business community, with detrimental effect on forward planning and export sales together with doubts on investment decisions. The export incentive scheme was introduced in 1961. The operation of the scheme has coincided with a period of sustained export growth from S2,150m in 1961-62 to $4,900m in 1971- 72. There are income tax rebates for expenditure made on export promotion and payroll tax rebates or incentive grants linked to export growth.

I present the following paper:

Export Incentives - Ministerial Statement, 14th September 1972.

Motion (by Mr Chipp) proposed:

That the House take note of the paper.

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