Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

I do not thank Senator Macdonald for some of the content of his speech, but I do thank him for drawing the broad principles and critique to the attention of the Senate. What, in fact, he has highlighted is the much more responsible budget approach of this government to the program and the fiscally conservative approach we take to these particular funding matters. The Export Market Development Grants Amendment Bill 2008 does expand the maximum grant by $50,000 to $200,000. There is additional funding of $50 million in the 2009-10 financial year. Senator Macdonald drew our attention to that and asked, ‘Where is the additional funding for the years beyond 2009-10?’ The funding amounts will be subject to what is known as the Mortimer review, which will examine the outcomes of the program in the next financial year. That is a prudent approach, Senator Macdonald, to the outcomes that are claimed may occur as a result of the expansion of the scheme. I am informed that the previous Liberal government did expand the scheme but did not provide any additional funding in the out years. They may, in fact, have done so if they had continued in government. I thank Senator Macdonald for his contribution. Our approach is fiscally conservative. It is a responsible approach to budget funding. We stand by it, and we commend the bill to the Senate.

Question agreed to.

Bill read a second time.