INDUSTRIES DEVELOPMENT COMMITTEE

In reply to Mr HAMILTON-SMITH (Waite) (8 October 2010) (Estimates Committee B).

The Hon. A. KOUTSANTONIS (West Torrens—Minister for Manufacturing, Innovation and Trade, Minister for Mineral Resources and Energy, Minister for Small Business): The Treasurer has delegated his powers of referral to the IDC to the Minister for Industry and Trade.

There is no statutory obligation on me to refer matters to the IDC unless a guarantee is to be provided, either in relation to a liability or the repayment of a loan. I understand that no guarantees have been issued under the Industries Development Act 1941 since November 2005, when the Committee last met.

I feel the IDC provides a robust way of us having a bipartisan approach to certain industry development. I will be taking a more liberal view on referrals of these matters to the IDC.