Tuesday, 13 June 2017
Questions without Notice
If I could just finish my answer to the previous question, the BCA have also decided to introduce their own targets. Through the budget, we have been focused on fairness and opportunity. Though it is fair to support three per cent of the population winning three per cent of government contracts, we provided opportunity by not giving Indigenous businesses a handout; we are simply giving them a chance to win business so they can demonstrate value for money. But it is more than that.
Supporting Indigenous businesses also makes great economic sense. Deloitte Access Economics found that if we close the gap in economic Indigenous participation, our economy would be $24 billion better off by 2031—that is, $24 billion from increased tax receipts and decreased welfare payments. Backing Indigenous business also helps get more Indigenous jobseekers off welfare and into work. This has been a remarkable change around. IPP contracts have an average Indigenous workforce of 51 per cent.