Mark Vaile (Lyne, National Party, Minister for Trade) Share this | Hansard source

I thank the member for Kalgoorlie for his question. Of course, the electorate the member represents is a significant contributor to the export effort and the strength of the Australian economy at the moment. The budget delivered by the Treasurer last night is strong and comprehensive. It has been delivered through good government, good economic management and, most of all, through the discipline with which the government has managed the Australian economy over the last 10 years—a discipline which had not been shown by previous governments in Australia, particularly Labor governments. I congratulate the Treasurer on his fiscal prowess in delivering this budget—for striking the right balance for all Australians in this budget.

The budget forecasts that exports will rise by seven per cent in volume terms in 2006-07, and that is off a relatively high base, so exports are going to continue to grow. The budget announced an extra $2.3 billion investment in much needed transport infrastructure, which is going to be crucial in getting exports to the ports and out of Australia. The announced increase in the depreciation allowance to 200 per cent for businesses will encourage investment by Australia’s exporting businesses. It will make them much more competitive in the international marketplace. As well, the budget provides $23.3 million to continue our TradeStart office network across Australia to reach out, encourage and help new exporters in particular to get into export markets. It also contains $160 million for the Export Market Development Grants Scheme, which, particularly for new exporters, is a very valuable resource for getting into new markets and supporting their efforts in opening up new markets.

Importantly, the budget delivers another surplus. A $10.8 billion surplus in the Australian economy is forecast. It is further proof of the government’s stable and sound economic management of this country. We will continue to maintain a strong and stable economy, which is the most important thing the business community needs to compete in the international marketplace. This is a responsible budget which invests in critical infrastructure for the future. It also invests in research and development in technology, and it gives the private sector the opportunity to invest in their future and be more competitive on the world stage.

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