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Morrison Government manufacturing fund insult



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BRENDAN O’CONNOR MP

SHADOW MINISTER FOR EMPLOYMENT AND INDUSTRY

SHADOW MINISTER FOR SCIENCE

SHADOW MINISTER FOR SMALL AND FAMILY BUSINESS

MEMBER FOR GORTON

SENATOR LOUISE PRATT

SHADOW ASSISTANT MINISTER FOR MANUFACTURING

SENATOR FOR WESTERN AUSTRALIA

MORRISON GOVERNMENT MANUFACTURING FUND INSULT

Labor welcomes the Morrison Government’s announcement of funding to support

local Australian manufacturers; however $50 million is an insult to the industry after

slashing $4 billion in research and development (R&D) tax incentives.

Minister for Industry, Science and Technology Karen Andrews’ announcement

yesterday of a $160 million Manufacturing Modernisation Fund only contains $50

million of government funding with the majority of investment onus put back onto

industry.

The Productivity Commission’s Productivity Bulletin in May said “Australia’s future

depends on a focus and investment in science and research, which will drive

innovation.” However it highlighted that productivity growth in Australia had been

“sluggish partly due to weak investment, particularly in research and development.”

R&D is key to the future of Australian industry, particularly the future of

manufacturing in Australia. The Advanced Manufacturing Research Centre

Competitiveness Plan calls on Government to “Improve government support for

business-led R&D and encourage industry-research collaboration”*

If the Morrison Government was serious about helping manufactures to grow,

become competitive globally and develop new technologies they would be

investing in R&D.

*AMGC Sector Competiveness Plan

FRIDAY, 6 SEPTEMBER 2019

MEDIA CONTACT: ASH BUCK 0427 215 084 (PRATT)