Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Hansard source

I thank Senator Seselja for his question. I can confirm that this government, under this Prime Minister, is going to provide economic leadership in the whole area of innovation and science to provide the jobs and growth of the 21st century. We are doing this through a number of measures to drive business and innovation. Specifically, we are assisting exporters to take advantage of the significant expansion of markets through the good work of the Minister for Trade and Investment—the China-Australia Free Trade Agreement, free trade agreements with Korea and Japan and of course the trans-Pacific partnership. The trans-Pacific partnership in particular will give Australia's exporters unprecedented access to the world's leading markets while protecting our intellectual property, generating unique opportunities and incentives for our leading minds to generate great ideas.

Innovators today can take advantage of policies which were put in place by this government when we came to power two years ago. Small and medium sized enterprises are taking advantage of the tax cuts that were in this year's budget for small business. They can take advantage of the $482 million Entrepreneurs' Program, the flagship firm level initiative that continues to grow the economy and create jobs, and the Accelerating Commercialisation program, for business management and assistance with research connections. On top of that, we have our annual red tape repeal day in the House of Representatives today, which builds on $2 billion worth of cuts to red tape and regulation, to make businesses more nimble, agile and innovative.