House of Representatives

Second Reading Speech

Senator FAULKNER (Special Minister of State and Cabinet Secretary)

I table a replacement explanatory memorandum relating to the Fisheries Legislation Amendment (New Governance Arrangements for the Australian Fisheries Management Authority and Other Matters) Bill 2008 and revised explanatory memoranda relating to the Tax Laws Amendment (2008 Measures No. 2) Bill 2008, the Tax Laws Amendment (2008 Measures No. 3) Bill 2008, and the Excise Legislation Amendment (Condensate) Bill 2008 and a related bill, and move:

That these bills be now read a second time

I seek leave to have the second reading speeches incorporated in Hansard.

Leave granted.

The speeches read as follows-

Consistent with its theme of responsible economic management, the Government identified a number of programs that were inefficient or wasteful, or were largely duplicated elsewhere. The employment entry payment is one such scheme.

The employment entry payment was initially introduced in 1989 to assist with costs associated with taking up employment. Since then, three other schemes have been introduced which provide similar or better assistance and which are more flexible in their application. These are the special employment advance, job seeker accounts provided via the Job Network, and the working credit. Further improvement will be implemented under the new employment services model.

This bill will repeal the employment entry payment, effective from 1 July 2008.

Removal of the payment will simplify the assistance available to those commencing work, particularly in relation to the complex interactions now in place between the employment entry payment and the special employment advance and will realise savings of $60.8 million over 5 years and delivers on the Government's commitment to responsible economic management.

I commend the bill to the Senate.