Industry-Innovation-and-Competitiveness-Agenda

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Co In Industry Innovation and Competitiveness Agenda TPO00007 As part of the 2014-15 Budget, the Government Innovative technologies help Tasmania’s AQ1 announced it will establish a Medical Research Systems compete in the world Future Fund from 1 January 2015. All savings Specialising in optical and acoustic sensing from health reforms announced in the 2014-15 technology, Tasmania’s AQ1 Systems is the Budget will be reinvested in the Fund until its world’s leading supplier of sensor based feeding balance reaches $20 billion. This investment will ensure Australia can continue to advance world control technology for aquaculture. Aquaculture leading medical research projects and attract produces more than half the seafood the and retain first class researchers. The Fund will world consumes, and feed accounts for up to support vital medical research which will benefit 60 per cent of aquaculture production costs. AQ1’s all Australians either directly through improved innovative technologies have been combined to health, or indirectly by supporting improved create a feeding system that understands fish productivity and economic growth. and shrimp feeding activity and releases the exact amount of feed they require 24 hours a Upgrading the skills of all types of workers, day without wastage. AQ1’s technology replaces including managers, is central to firm labour-intensive feeding methods on farms and performance in knowledge-based economies. is the result of the firm’s long term commitment The quality of management is particularly to research and development. Farmers deploying important to enable quick adaption to the system are recording big productivity gains evolving markets and changing circumstances. and receiving higher prices for their product due In this regard, the Government will provide to early harvest and consistently higher quality. $476 million over four years to establish the Industry Skills Fund from 1 January 2015. This will support the training needs of small to medium enterprises that cannot be readily met by the existing national training system. The Fund will prioritise assistance to SMEs to position themselves to take advantage of new technology, innovative work practices, new and emerging opportunities, opening export markets and emerging economies. Larger companies may apply to access the Fund, but will be expected to make greater contributions towards the cost of training. Although the Fund will not exclusively target the following industries, the Government has identified immediate priority areas, including: food and agribusiness; mining equipment, technology and services; medical technologies and pharmaceuticals; oil and gas; and advanced manufacturing. The Industry Skills Fund will be complemented by the Trade Support Loans Programme, which will provide apprentices with financial assistance of up to $20,000 over the life of their apprenticeship. The Government is also helping Australian businesses develop international markets and win productive foreign direct investment. The Government is taking a Team Australia approach to support trade and investment through leadership of trade missions by the Prime Minister 70 Industry Innovation and Competitiveness Agenda
and senior Cabinet Ministers to priority markets. It provided the Export Finance and Insurance Corporation (EFIC) with an additional $200 million in capital in the 2014-15 Budget and is refocusing EFIC to increase its capacity to finance small and medium enterprises. It also boosted Export Market Development Grants by $50 million, which will help small and medium enterprises increase exports. EFIC provides finance and insurance solutions to assist Australian exporters overcome financial barriers when growing their business overseas, by helping successful businesses finance export trade or overseas investments where their bank is unable to provide all the support they need. In addition, the Government has established the $50 million Manufacturing Transition Programme to assist Australian manufacturers shift to higher value activities and improve competitiveness. The Programme offers grants for manufacturers that invest in projects to expand or transition into higher value or knowledge based manufacturing activities. Applications for the first round of the Programme opened on 1 September 2014. In response to announcements of the closure of automotive manufacturing in Australia by 2017, the Government also established a $155 million Growth Fund. The Fund will assist automotive employees to have their skills recognised and provide training for new jobs, while they are still employed; provide career advice and assist automotive employees to secure new jobs; assist automotive supply chain firms capable of diversifying to enter new markets; accelerate private sector investment in high value non-automotive manufacturing sectors in Victoria and South Australia; and support investment in non-manufacturing opportunities in affected regions. Industry Innovation and Competitiveness Agenda In Co TPO00007 The Reform Agenda: Ambition 4 71
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Industry Innovation and Competitive
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Industry Innovation and Competitive
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Foreword Strengthening Australia’
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The Government’s economic vision
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Box 1: Key Initiatives • Encourag
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Ambition 1: A lower cost, business
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y improving regulatory certainty, t
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Ambition 2: A MORE SKILLED LABOUR F
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ecommendations of an Independent In
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Ambition 3: BETTER ECONOMIC INFRAST
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Ambition 4: INDUSTRY POLICY THAT FO
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Part A THE CASE FOR REFORM
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Chart 1: The growth of emerging Asi
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The changing global economic landsc
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Chart 5: Overseas investment 2,500
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United States, Japan and the United
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Box A1: Industries with promise 1.
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6. Innovative pharmaceuticals, biot
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Many of our competitors have recogn
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• Better management practices - w
Page 41 and 42: including on Energy, Taxation, Agri
Page 43 and 44: Part B THE REFORM AGENDA
Page 45 and 46: competition with private businesses
Page 47 and 48: More generally, while there is a ca
Page 49 and 50: Ambition 1: A lower cost, business
Page 51 and 52: The Government’s Deregulation Age
Page 53 and 54: Further Proposals Proposal 1: Accep
Page 55 and 56: whether coverage by a single nation
Page 57 and 58: The Government is committed to a be
Page 59 and 60: Improving access to high-quality, l
Page 61 and 62: services and technology. These alig
Page 63 and 64: The Government considers that Austr
Page 65 and 66: The Government is focused on promot
Page 67 and 68: Ambition 2: A more skilled labour f
Page 69 and 70: A number of the other themes raised
Page 71 and 72: Vocational education and training t
Page 73 and 74: Further proposals Proposal 9: Incre
Page 75 and 76: • managing the administration of
Page 77 and 78: The Government will continue to ens
Page 79 and 80: • introduce a Premium Investor vi
Page 81 and 82: a right to access workplaces includ
Page 83 and 84: Ambition 3: BETTER ECONOMIC INFRAST
Page 85 and 86: Increasing public investment in eco
Page 87 and 88: Alongside this work, the Government
Page 89 and 90: To leverage private investment, the
Page 91: Austrade provide reliable informati
Page 95 and 96: • taking practical steps with gov
Page 97 and 98: However, we face challenges in turn
Page 99 and 100: Employee Share Schemes (ESS) are us
Page 101 and 102: Example: Making it easier for emplo
Page 103 and 104: Proposal 16: Crowd-sourced equity f
Page 105 and 106: PART C: IMPLEMENTING OUR ECONOMIC A
Page 107 and 108: Many of the drivers of competitiven
Page 109 and 110: Table 3: Consultation pathways Refo
Page 111 and 112: Reform Consultation pathway Project
Page 113 and 114: Abbreviations AND References
Page 115 and 116: INSEAD KPMG LNG PAYG NCC NCVER NICN
Page 117 and 118: ABS. (2014j). Labour Force, Detaile
Page 119 and 120: Business Council of Australia. (201
Page 121 and 122: Department of Infrastructure and Re
Page 123 and 124: Lignier, P., Evans, C., & Tran-Nam,
Page 125 and 126: Prime, P. B. (2012). Utilizing FDI
Page 127 and 128: United Nations Food and Agriculture
Page 129 and 130: © Commonwealth of Australia 2014 9
Page 131 and 132: Co In Industry Innovation and Compe
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