Matt Burnell (Spence, Australian Labor Party) Share this | Hansard source

by leave—I want to acknowledge the hard work of the members of the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs on this important report tabled today. In particular, I acknowledge the fine work of the committee chair, Senator Jana Stewart, as well as the work of the deputy chair, the member for Durack. Thank you for your efforts. I want to thank the committee secretariat as well. They play a crucial role in helping to deliver important reports such as this, and their tireless efforts are always appreciated. Finally, I want to express my immense gratitude for the public's engagement with this inquiry, as the committee received 115 written submissions to inform the report and was assisted by a multitude of witnesses during the eight public hearings held for the inquiry. To all who contributed: thank you for your invaluable insights into this subject matter.

The importance of this report and the committee's inquiry into economic self-determination and opportunities for First Nations Australians cannot be overstated. First Nations Australians are huge contributors to the Australian economy. The report rightly states that they punch above their weight considering the significant disadvantages First Nations people still have in our country. Research from the University of Melbourne shows that First Nations businesses generate $16.1 billion a year in revenue, employ more than 116,000 people, pay $4.2 million in wages and are 40 to 100 times more likely than non-Indigenous businesses to employ Aboriginal and Torres Strait Islander staff. That last bit means that not only does the First Nations economy produce massive benefits for Australia in an economic sense, but it also provides crucial uplift for some of the most disadvantaged people and communities in this country. The report found that, for every dollar of revenue spent by these businesses, First Nations enterprises go on to create $4.41 of economic and social value. This is a First Nations economy that is, as I speak, smashing barriers and changing lives for thousands upon thousands of Australians who work within those businesses. It's one whose success filters to the very ground level of First Nations communities.

This is a significant strength of our national economy, one that is genuinely life changing for First Nations people, but it continues to fly under the radar. That's why it's so important we, as legislators, are actively looking at ways we can support and expand the First Nations economy. The report rightly provides 22 recommendations to that effect. This underpins a fundamental reframing of the First Nations economic narrative by developing new instruments and strengthening existing ones to enhance First Nations people's access to finance and capital.

I'm also proud to note that the Albanese Labor government has already taken significant steps in this direction, making historic investments into jobs, education, health and opportunities, including fee-free TAFE, which has seen 30,000 First Nations enrolments; a $777.4 million investment, alongside 3,000 jobs created in remote Australia; and the establishment of a First Nations economic partnership to foster comprehensive economic dialogue from the ground up. We're doing this because, as the inquiry makes clear, with the right government approach historical barriers to wealth, employment and social inclusion can be addressed meaningfully through ensuring that First Nations Australians are able to better access economic opportunities.

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