The Australian Government today released the report of the review into the Indigenous Land Corporation and Indigenous Business Australia.
The review was conducted by Ernst & Young.
The Government commissioned the review late last year to examine how to improve the effectiveness of the two key Commonwealth land and business development statutory bodies.
“It presents ambiguous and confused findings,” the Minister said.
“It provides support for both leaving the two bodies as stand-alone organisations and for amalgamation.”
“The recent Commission of Audit report recommendations urged consideration of merging the two bodies, highlighting potential efficiencies, cutting duplication and convenience for clients.
“I specifically excluded the Land Account from the Ernst & Young review because it is not the Government’s intention to change this iconic Indigenous fund.
“The Commission of Audit specifically highlighted the need to maintain the Indigenous Land Account to ‘provide a stable revenue stream to fund Indigenous land acquisition and management activities.’
“It remains my view that there is opportunity to generate prosperity for Indigenous Australians by linking land to economic development and jobs to cut through the cycle of Indigenous Australians being ‘land rich, but dirt poor.
“I will continue to consider future options and will consult on this matter with relevant stakeholders.”
The report is available at www.dpmc.gov.au
Download media release:
2014-05-03 EY Report ILC-IBA.pdf