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Budget 2018: Turnbull's budget abandons manufacturing



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SENATOR THE HON KIM CARR

SHADOW MINISTER FOR INNOVATION, INDUSTRY, SCIENCE AND RESEARCH SENATOR FOR VICTORIA

TURNBULL’S BUDGET ABANDONS MANUFACTURING

With Tuesday night’s budget the Turnbull Government has abandoned Australian Manufacturers and their workers, preferring to bake in old cuts and pursue its unfair plan to hand out $80 billion in tax cuts to big banks and multinationals.

While manufacturing is undergoing a period of profound transition and disruption, it is disappointing the Government has failed to offer any plan for the sector - especially as the Budget was delivered on the eve of National Manufacturing Week.

Unlike most OECD countries, the attitude of the Turnbull Government seems to be that that manufacturing can look after itself.

All the old cuts from the horror 2014 budget - cutting back the level of business support available from the Department of Industry and AusIndustry - and cutting the Automotive Transition Scheme remain.

Further there has been no review of the small, piecemeal programs announced in previous budgets to assess whether they have been effectively implemented.

Clearly the Turnbull Government has no plan for manufacturing or manufacturing jobs, just a plan to save their own jobs.

In contrast Labor has a strong plan that will support local manufacturing firms and jobs including:

 The Australian Investment Guarantee (AIG) which will provide accelerated depreciation incentives for new capital equipment investments to keep local manufacturing internationally competitive.

 The $1 billion Advanced Manufacturing Future Fund which will support innovative Australian manufacturing firms who want to grow their businesses and create jobs, but who might find it difficult to obtain private sources of finance.

 Establish a National Rail Plan to ensure that every dollar of Federal funding spent on rail projects goes towards creating local jobs and protecting our rail industry.

 Toughen the Anti-Dumping Commission to safeguard Australian jobs in steel and aluminium and other industries vulnerable to such attacks.

 Protect Australians in their homes and workplaces by improving fire safety in buildings with a ban on the importation, future sale and use of highly flammable polyethylene (PE) cladding.

 Establish a National Space Industry and Science Agency, with supporting programs, to ensure Australia has the best opportunity of building a stake in this important emerging industry.

 Investing $470 million to boost TAFE, apprenticeships and skills including, scrapping upfront fees for 100,000 TAFE students who choose to learn the skills that Australia needs to become a modern advanced manufacturing economy.

Labor is backing Aussie businesses that employ Australians to make things in Australia. To achieve this, government needs to assist firms to modernise and move into high-value, high skill production.

When it comes to Australian jobs and manufacturing the choice between Labor and Liberals could not be clearer.

FRIDAY, 11 MAY 2018

MEDIA CONTACT: THOMAS MOORHEAD 0427 126 355

Authorised by Noah Carroll ALP Canberra