Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

I have a serious question for Senator Cormann. It is a question that has not been asked previously at estimates like the previous question had been. My question to Senator Cormann is in his role representing the Treasurer, who as we all know is the minister for growth and a better economy. I ask the minister to tell the Senate about the government's plans for stronger growth, investment and jobs in the north of Australia.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I thank Senator Macdonald for that question. In doing so, I acknowledge his many, many years of strong and effective advocacy for the people and communities of the north. The government today has released our plan for developing northern Australia. There is, in the government's assessment, significant and very exciting untapped potential in our North. Northern Australia, of course, already makes a very significant contribution to our economy.

Just one million people live in about three million square kilometres across northern Australia. There are communities from Townsville to Cairns to Darwin to Broome to Karratha. Those one million Australians are responsible for more than half of our sea exports out of Australia. Just 60,000 people in the Pilbara of Western Australia are generating national income for Australia that is in excess of the income generated by 119 countries around the world. Sixty thousand Australians in the Pilbara are generating more income than that which is generated by 119 countries around the world.

We believe that we can do better. We believe that there is great opportunity for the great North of Australia to contribute even more strongly to Australia's economic growth and prosperity. That is why the government is making an unprecedented investment in our future success and in the future success of families and businesses across northern Australia through our northern Australia white paper. I congratulate Senator Macdonald for the contribution he has made in putting that plan together. We have set out an ambitious, long-term reform agenda with actions to unlock the North's full potential across six key areas: simpler land arrangements to support investment, developing the North's water resources, growing the North as business trade and investment gateway— (Time expired)

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. I thank the minister for his response, but I am wondering if the minister might be able to continue to tell the Senate of some of the more specific measures by which the government will drive stronger business, trade and investment in our great North.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

The government will make an initial $1.2 billion investment in additional growth opportunities across northern Australia, which comes on top of the $5 billion northern Australia infrastructure facility that was announced in the budget. It comes on top of about $5 billion that the government is already investing in transport in infrastructure across northern Australia.

To fast track growth in North, the government will also help business to enter new markets and supply chains by increasing access to the Entrepreneurs' Infrastructure Program and the Industry Skills Fund. A new $75 million cooperative research centre will boost northern focused research. To boost opportunities for Indigenous workers and businesses, the Commonwealth government we require Indigenous procurement targets for all road projects funded through this white paper. Despite these measures, we understand that there are likely to be remaining shortages in some sectors and that is why we are making some changes to working holiday migrant visa programs as well. (Time expired)

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. I appreciate that the minister has a lot to tell us about. I am wondering if the minister could also indicate how government reforms will bring down the cost of running a business in northern Australia and make it an even more attractive place to work and invest in.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

This white paper cuts red tape. By cutting red tape, we are bringing down the cost of doing business. For example, we are working with the Northern Territory government on the establishment of a single point of entry for investors in major projects to help them through all regulatory hurdles. We will remove excessive regulatory burdens by streamlining and simplifying cultural, heritage and fishery and wildlife trade regulations and by supporting northern industries, including fisheries and crocodile trade. We will streamline the recognition of occupational licences from other jurisdictions, improving labour mobility into northern Australia.

The North will never reach its full potential without secure, tradable titles to land and water. So much of the North is Crown land that is held under state and territory pastoral leases and pastoral leaseholders are generally unable to use their land for activities other than grazing, such as horticulture or tourism. The government will support their work with willing communities and jurisdictions to pilot land reform projects, targeting practical next steps for projects that demonstrate the benefits of land reform. (Time expired)