4 years ago
BUDGET UPDATE OMITS MANUFACTURING PLAN
BRENDAN O’CONNOR MP
The Morrison Government has failed to outline a plan for manufacturing in today’s Budget update.
This is a serious oversight, particularly considering how crucial Australian manufacturers have been in responding to the global health pandemic.
It follows reports today that Australia ranks last in a list of OECD countries in terms of manufacturing self sufficiency.
Australia has always been a nation that makes things, in an industry with a history of decent, skilled, fulltime jobs, but this ability is shrinking.
COVID-19 has exposed the vulnerability of our commodity based economy to global shocks. The Liberals’ lack of an economic plan is leaving Australia, and particularly manufacturing, dangerously exposed to turbulence in the global economy.
While some of our manufacturers have adapted to produce much needed Personal Protective Equipment during COVID-19, Australia needs a more sophisticated manufacturing plan than just responding to crises.
The reality is that the Australian manufacturing sector has been contracting not growing. Australia needs a sophisticated manufacturing plan to drive employment, and boost GDP.
The only plan the Morrison Government currently has is to rip $1.8 billion from research and development. Research and Development is inextricably linked to a recovery led by advanced manufacturing, and the manufacturing sector is the second largest spender on R&D.
As we look to the future and how we best emerge from the health crisis and recession, we have to focus on how to establish well paid, skilled and secure jobs.
The Morrison Government has been talking up manufacturing, while omitting a detailed plan and presiding over its decline.
The Morrison Government must do more to support the Australian manufacturing sector.
They need to come up with a genuine plan to get the economy moving again.
This is a serious oversight, particularly considering how crucial Australian manufacturers have been in responding to the global health pandemic.
It follows reports today that Australia ranks last in a list of OECD countries in terms of manufacturing self sufficiency.
Australia has always been a nation that makes things, in an industry with a history of decent, skilled, fulltime jobs, but this ability is shrinking.
COVID-19 has exposed the vulnerability of our commodity based economy to global shocks. The Liberals’ lack of an economic plan is leaving Australia, and particularly manufacturing, dangerously exposed to turbulence in the global economy.
While some of our manufacturers have adapted to produce much needed Personal Protective Equipment during COVID-19, Australia needs a more sophisticated manufacturing plan than just responding to crises.
The reality is that the Australian manufacturing sector has been contracting not growing. Australia needs a sophisticated manufacturing plan to drive employment, and boost GDP.
The only plan the Morrison Government currently has is to rip $1.8 billion from research and development. Research and Development is inextricably linked to a recovery led by advanced manufacturing, and the manufacturing sector is the second largest spender on R&D.
As we look to the future and how we best emerge from the health crisis and recession, we have to focus on how to establish well paid, skilled and secure jobs.
The Morrison Government has been talking up manufacturing, while omitting a detailed plan and presiding over its decline.
The Morrison Government must do more to support the Australian manufacturing sector.
They need to come up with a genuine plan to get the economy moving again.