MOTIONS

Mr VIOLI (Casey) (18:35): Space can sometimes feel like a far-off concept that people think doesn't impact their day-to-day life. However, the reality is it is so crucial to everything that we do today. Satellite now ensures that we can use things like GPS and our banking systems.

Essentially, our digital economy is underpinned by satellites and by space. The reality, in a modern world, is that our ADF now talks about five domains. It used to be land, sea and air.

It's still those three, but it's now also cyber and space as domains. It is crucial for our country that we have a strong space sector from an economic perspective but also from a national security perspective. This motion is interesting.

It's six points—quite long. What makes it so interesting is what's not in it. It talks about a statement on space.

Well done. Statements are important. It does not list $1 of funding from this government for the space industry in Australia.

Not one. This government cannot put in a motion showing any tangible funding that they're providing to the space sector. And I've already gone through how important it is, but it's also the opportunities we have in Australia, given our geographical location in the Southern Hemisphere, to provide a vital link to worldwide satellite opportunities.

There are also the research capabilities that can be unlocked through space. And there's not a dollar from this government. In fact, it's worse than that.

Under the coalition, the National Space Mission for Earth Observation was funded to the tune of $1.16 billion in the coalition's budget. Now, what did this government do with that funding? They cut it.

They cut that funding. It would have created over 500 jobs, and it had an anticipated supply network of more than 100 Australian companies. This government can talk about a statement, but those in the industry know they've been abandoned by this government.

They've been abandoned in the government's own words. This motion contains not $1 of funding for space, but then they have cut that vital opportunity for our country. They've also cut other areas of space.

The Australian Spaceports program was a $32.3 million co-investment initiative to build sovereign launch sites and cement Australia as a regional space hub—gone. In the 2023 budget, $59.7 million from the Australian Technology into Orbit program and the spaceflights tickets subprogram and $18 million from the Moon to Mars program—cut, gone under this government.

They want to talk about a statement, and they have the gall to pat themselves on the back when they have cut time and time again from our space industry. But in the budget, we saw another decision that made it so hard for the space industry to get ahead. There's no government support—gone.

But if you're a startup or you are building a tech startup in the space industry, your life just got harder, because if you started that business and you're looking to get capital gains out of that business and hopefully sell it in the future—because most tech startups want to exit, and that's how they make their money—you'll get a tax increase under this government under the capital gains tax changes, the broken promise from this prime minister.

You will pay 47 per cent tax for your hard work, for your sweat equity and for the risks that you have taken. To show how out of touch this Prime Minister is when it comes to the space industry and tech start-ups, the Prime Minister said, 'Well, it won't impact businesses. You don't have to worry.

The CGT changes won't impact you day to day. It's when you sell the business.' Genius, Prime Minister! You just showed every tech start-up that you don't understand their business, because they start with the ambition to sell.

The stock options, the capital gains and the sellout are how they make their money. That is the whole point of the tech start-up sector, and in one sentence you showed your disrespect for and ignorance of the space sector and the tech sector in our country. That's what happens when you have a prime minister and a treasurer who break their word to the Australian people.

They promised they wouldn't change the capital gains tax and then changed it and didn't consult with anyone. They have both spent over 30 years in this House as MPs or staffers. It's actually closer to 50, if we're being honest.

They have spent not one day in the private sector. It's no wonder Australian businesses cannot get ahead. This government does not understand you at all.