Liberals consider cuts to Auto & TCF industries

22 Jan '10

2 min read

The Shadow Treasurer flagged cuts to industry assistance for the automotive and textile, clothing and footwear (TCF) industries - a move that would cost thousands of jobs.

Comments by Mr Hockey that the Opposition would look seriously at cutting industry assistance to Australian manufacturing should send a collective shiver down the spines of the one million workers and their families whose livelihoods depend on this vital sector.

JOURNALIST: The Productivity Commission has given the Government some ideas as to where to find big savings in the future by axing the billions in subsidies to the car manufacturing industry and the textile industry. Do you support that idea?

HOCKEY: This is something that needs to be looked at seriously if you are going to improve productivity in Australia... (ABC AM)

Mr Abbott must come out immediately and rule out cuts to assistance to the automotive and TCF industries under the Liberal Party.

This speculation about cuts by the Liberals undermines confidence and investment and has the potential to send industries offshore, costing Australian jobs.

These comments come at a time when the manufacturing sector is emerging from the worst global recession in a generation and maintaining local jobs couldn't be more important.

The comments also put Mr Hockey at odds with the Shadow Innovation Minister, Sophie Mirabella, who has said in Parliament about TCF manufacturing:

We would be absolutely foolish to allow the exportation of entire industries overseas. I am on the record on this. Even before I was elected, I campaigned very heavily and argued quite strongly on such an issue. (18 March 2009)

Mr Hockey's comments are further evidence that you can't trust Tony Abbott and the Liberal Party when it comes to the economy.

Minister for Innovation, Industry, Science and Research

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