4 years ago
LESS THAN 3% OF GOVT MANUFACTURING FUNDS TO BE SPENT IN DEPTH OF RECESSION
BRENDAN O’CONNOR MP
In the depths of the Morrison recession, less than 3 per cent of funding slated in the Budget for Australian manufacturing will be spent this financial year, which is woefully inadequate and will jeopardise Australian jobs.
On Insiders this morning, Industry Minister Karen Andrews confirmed only $40 million of $1.5billion will be spent this financial year – too little, too late:
“Overall it’s going to be about $40 million that’s spent before the end of this current financial year.”
The Budget papers state a paltry $79.1 million will be spent in the 2020-21, so the government is already planning to under-deliver by half that amount.
Both the Prime Minister and Minister for Industry continuously talk about the importance of medical technology and manufacturing as we deal with Covid-19 and the Morrison recession, begging the question, why won’t this government get more of the $1.5 billion out of the door now to keep manufacturing in Australia?
The Morrison Government’s lack of immediate action will mean the recession will be deeper and longer than it need be.
Once again, this government is all about announcements, but lacks the substance to implement their promises.
“Manufacturing is critical to Australia’s economic future, to the prosperity of our regions and to the capabilities that underpin the success of so many other industries.”
On Insiders this morning, Industry Minister Karen Andrews confirmed only $40 million of $1.5billion will be spent this financial year – too little, too late:
“Overall it’s going to be about $40 million that’s spent before the end of this current financial year.”
The Budget papers state a paltry $79.1 million will be spent in the 2020-21, so the government is already planning to under-deliver by half that amount.
Both the Prime Minister and Minister for Industry continuously talk about the importance of medical technology and manufacturing as we deal with Covid-19 and the Morrison recession, begging the question, why won’t this government get more of the $1.5 billion out of the door now to keep manufacturing in Australia?
The Morrison Government’s lack of immediate action will mean the recession will be deeper and longer than it need be.
Once again, this government is all about announcements, but lacks the substance to implement their promises.
“Manufacturing is critical to Australia’s economic future, to the prosperity of our regions and to the capabilities that underpin the success of so many other industries.”