The Australian government has committed to a number of measures to support the automotive industry through its transition.
The government has invested A$101 million into the $155 million Growth Fund for retraining of workers. The Automotive Industry Structural Adjustment Programme, will help retrenched auto workers find jobs and open in 2018.
The Automotive Diversification Programme helps automotive supply chain firms enter new markets. It has generated $51 million in private sector investment.
The Next Generation Manufacturing Investment Programme is accelerating private sector investment in high value manufacturing sectors in Victoria and South Australia. It has generated over $283 million in reciprocal private sector investment.
Senator for South Australia, Nick Xenophon has previously said that the government should reallocate $1.3 billion in unused funds for the Automotive Transformation Scheme to help reposition businesses.
“By holding onto this money, and not having a transition plan for the auto sector, the government is pursuing the worst form of false economy. There is no doubt that the direct jobs lost and the multiplier effect of this sector shutting down will be a multi-billion dollar hit to the Australian economy unless there is a Plan B,” Xenophon said.