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Services industry fundamentally important.

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The Hon Fran Bailey MP Minister for Small Business and Tourism

Media Release The Hon Fran Bailey, MP

6 July 2007

SERVICES INDUSTRY FUNDAMENTALLY IMPORTANT The services industry was fundamentally important to Australia's current and future economic and social well being, Fran Bailey, Minister for Small Business and Tourism, said today.

The services industry accounts for 85% of employment and generates $28.9 billion of export dollars.

Tourism alone earns Australia $20.5 billion in tourism exports, underpinned by the Howard Government's record investment in tourism promotion.

"Services in Australia is booming, with more Australians starting a small business or working in the services industry than ever before," Fran Bailey said.

"In terms of jobs, exports and innovation, the services industry is making a fundamental contribution to the economic and social well being of Australia.

"The Howard Government is backing the services economy to the hilt, with a wide range of Government policies to support this vital sector."

Services comprise tourism, retail, energy, construction, financial services, communications, IT and education services, to name just a few.

But Fran Bailey warned there was a threat to this success.

"The services industry needs two magic ingredients for their continued success - a strongly managed economy and a fair and flexible workplace relations system," Fran Bailey.

"The Howard Government has strongly managed the economy, helping to create opportunities for business to prosper. We have also introduced a fair workplace relations system for employees and employers.

Media contact: Kevin Lowe 02 6277 7450 0408 404 468

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