A Government scheme that gives Australian industry a fair go when competing for major projects is the “scheme of choice”, according to Access Economics.
Innovation Minister Senator Kim Carr said the Enhanced Project By-Law Scheme’s role in giving full, fair and reasonable opportunity to Australian industry has been recognised by the report.
The EPBS allows overseas-produced capital equipment into Australia duty-free for use in major projects within certain industries. Access to these concessions is dependent on implementation of an approved Australian Industry Participation Plan.
“The Gillard Labor Government is helping Australian companies to compete in international markets by creating opportunities for participation in major projects,” Senator Carr said.
“I am pleased that the report I release today has confirmed the effectiveness and appropriateness of the Scheme.”
“The evaluation highlights its positive design structure and notes that the EPBS is an integral feature of the Australian Government’s tariff policy framework”
“My Department is considering the recommendations of the report, and will undertake further consultation with stakeholders over the next 12 months.”
Since its inception the Scheme has attracted 482 applications with a combined project value of almost $343 billion. Major users of the scheme are the mining, gas supply, resource processing and water supply industries.
The evaluation recommendations and executive summary can be found on the Department of Innovation, Industry, Science and Research website at www.aip.gov.au/EPBS.
For information on Innovation portfolio initiatives, see www.innovation.gov.au.
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