Senate debates

Thursday, 27 February 2020


Australian Business Growth Fund Bill 2019; In Committee

1:24 pm

Photo of Jane HumeJane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) Share this | Hansard source

Yes, Senator Hanson, you are absolutely right. The Business Growth Fund is a brand-new financing model. It's unlike anything that we've done before in Australia, and it didn't exist in the UK and Canada until their business growth funds were set up. You're right, though. While ultimately government funding wasn't necessary in the UK and Canada, the governments of both of those countries did play a very critical role in getting their business growth funds off the ground. But it was decided that there is a level of leadership required for these big decisions to create an entirely new level of financing, an entirely new option, for small and medium enterprises in Australia, and the Morrison government is showing that leadership.


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