Hockey hails Israel at AICC budget briefing
AHEAD of the May budget, Federal Treasurer Joe Hockey presented at the Australia–Israel Chamber of Commerce (AICC) luncheon last Wednesday where he praised Israel’s economic policies that nurture innovation and reward risk.
In an address to more than 600 people at Melbourne’s Crown Palladium, he outlined that the Australian government looks to Israel as a model of innovation.
“There are many countries in the world that we can learn from and Israel is one of them,” Hockey said.
“Israel has a rich and eventful history but it never stops thinking about the future. Israel has many, many immediate challenges but it never stops planning for tomorrow. We are also planning for tomorrow, and we are doing it now.”
Hockey said this year’s budget will emphasise growth and jobs with a renewed focus on supporting innovative small businesses.
He said, “In that regard we have learnt a few lessons from Israel. As you know, Israel is home to more start-ups per capita than anywhere else in the world. It is regarded as the home of the ‘second Silicon Valley.’ The Israeli government put in place a good range of policies to support innovation and reward risk.”
Having just returned from the G20 and Spring Meetings of the IMF in the United States, Hockey assured the audience that Australia’s economic prospects are improving. “There is a growing sense of optimism about the global economy, which bodes well for Australia.”
He continued, “Barring any unexpected events, there was a view in Washington and New York that the global economy is in better shape now than it was 12 months ago … The broad message from the leaders of the world’s biggest economies was simple: things are getting better.”
This surge of confidence in the global and local economy, he said, will be reflected in the upcoming Budget.
“The Budget will include policies that will take another step towards building jobs, growth and opportunity for all Australians. It will be responsible, measured and fair. It will endeavour to do more for economic growth without compromising the balanced recovery occurring in the Australian economy.”
ZOE KRON
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