The Liberals’ announcement of the first round of Advanced Manufacturing Growth Fund recipients lays bare the complete inadequacy of the government’s support for those affected by the shutdown of the automotive industry.
This demonstrates yet again that the Liberals decision to withdraw assistance from automotive plants has left automotive communities in the lurch.
The Liberals’ programs are oversubscribed and underfunded.
Only 20 of the 81 firms who applied received assistance today, with a mere handful directly involved in automotive manufacturing.
Minister Cash has shown just how out of touch the Liberals are when she said on ABC radio this morning;
“We've got the Government investing in the sector”
The Liberal’s Advanced Manufacturing Growth Fund does absolutely nothing for automotive components suppliers in NSW, QLD and WA who have been left high and dry by the Liberals.
Likewise, the other piecemeal programs the government announced as part of their manufacturing package before the Budget does nothing for automotive firms affected by the closures.
By contrast, Malcolm Turnbull has chosen to pay the CEO of the Advanced Manufacturing Growth Centre $485,000 a year, and hand out $65 billion in corporate tax cuts to big business.
Two weeks ago, 2500 auto workers lost their jobs when Toyota closed its assembly plant at Altona in Victoria.
On Friday, Holden will shut its Elizabeth plant, with an expected loss of nearly 1000 jobs.
The country must now brace for an estimated negative annual shock of $29 billion— or two per cent of GDP.
These are the consequences of Malcolm Turnbull and Tony Abbott's determination to close Australia’s automotive industry and drive manufacturing jobs offshore.