The Turnbull Government has chosen to grow the economy to secure more and better paying jobs in trade and tourism through free trade agreements and business tax cuts.
The 2017-18 Budget lays the foundations for the Government’s commitment to a Free Trade Agreement with Indonesia. This is a vital step towards unlocking further opportunities for Australian exporters and creating more trade-related jobs. This progress complements the recent conclusion of the Pacific Agreement on Closer Economic Relations Plus Agreement with New Zealand and 12 Pacific Island countries, which will drive economic growth in Australia and the region.
In addition to our election commitments, the National Innovation and Science Agenda is creating opportunities for exporters in emerging industries. The Government has delivered on its commitment to open five ‘Landing Pads’ in the world’s innovation hubs of San Francisco, Singapore, Shanghai, Berlin and Tel Aviv, and is backing Australian start-ups, enabling our entrepreneurs to collaborate and expand into these key markets.
The Government is also addressing key infrastructure needs and market priorities in the tourism sector. This Budget kicks off development of the Western Sydney Airport, with the Government injecting $5.3 billion of equity over the next ten years to develop this vital project, ensuring Sydney can meet aviation capacity over the coming decades.
The Turnbull Government is also focussing on the important inbound China tourism market. Through the 2017 China Australia Year of Tourism we are encouraging more people from China to visit our country.
Together, these initiatives are driving economic growth that will secure more and better paying jobs across Australia.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555