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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15
  1. budget.gov.au
  2. 2014‑15
  3. Budget Overview
  4. Self-reliant, competitive industries

Self-reliant, competitive industries

The Government is supporting individual enterprise and the competitiveness of our businesses by simplifying industry programmes and boosting support for exporters

Past industry assistance policieshave delivered rapid growth in annual assistance per employee over the last decade to over $6,000, but have failed to arrest the decline in the share of national employment in assisted industries.

The Government is taking a new approach to industry based on greater self-reliance and flexibility.

By concluding free trade agreements, facilitating access to markets, supporting capability development, and cutting taxes and red tape over time, businesses have greater opportunities and confidence to invest and expand.

A $200 million boost to the Export Finance and Insurance Corporation's capital base, and a $50 million boost to the Export Market Development Grants programme will help more small and medium-sized businesses to access export markets.

The Government is fulfilling its election commitment for a $50 million Manufacturing Transition Grants Programme to help businesses transition to competitive industries and drive new and innovative opportunities for growth. A $155 million growth fund will also support regions facing pressures following the announced closures of motor vehicle manufacturers.

A new approach to industry policy will be implemented through the $484.2 million Entrepreneurs' Infrastructure Programme, which will improve the capabilities of small to medium enterprises and streamline business access to Government programmes.

The Government is developing the National Industry Investment and Competitiveness Agenda — to be outlined in more detail later this year — which will facilitate further improvements in the competitiveness of Australian businesses.

Employment in assisted industries has fallen as budgetary assistance has grown
This chart compares Australian Government assistance per employee in the supported sectors with the number of employees in those sectors as a proportion of total Australian employment. Between 1996-97 and 2011-12, government assistance to firms in the manufacturing, agriculture and mining sectors increased from $2,520 to $6,254. Over the same period, employment in those sectors decreased from 19 per cent of total national employment in 1996-97 to 13.5 per cent in 2011-12.