grants and funding

Federal treasurer Joe Hockey has said that government assistance would not be given to “lazy” companies, seizing on comments by a General Motors executive.

Former Victorian premier Jeff Kennett has said the former federal government’s 2012 cash injection to attempt to save the Alcoa Point Henry smelter was merely about trying to “save face”.

Trade minister Andrew Robb and others within the federal government are showing their opposition to industry assistance.

Alcoa has reportedly given up trying to secure subsidies from the Victorian or federal governments.

Alcoa’s Port Henry aluminium smelter at Geelong will have a review of its operations handed down in March.

Defence industry figures have expressed concern at the likelihood the federal government will not be able to increase spending in the next two budgets.

A new Steel Innovation Hub, based at University of Wollongong, has been announced, partnering companies such as BlueScope with the university.

Prime Minister Tony Abbott has sent a strong message to businesses not to expect handouts from his government.

Prime minister Tony Abbott has announced strategic reviews of the South Australian and Victorian economies.

The tension between the federal government and GM Holden has increased, with the Coalition urging the car maker to state whether or not it will continue manufacturing in Australia.

In the wake of the global financial crisis, Holden’s parent company, General Motors was placed on life support.

In an apparent change of heart, industry minister Ian Macfarlane has spoken in favour of the former government’s Innovation Precinct program.

Fortescue Metals Group’s CEO Nev Power has told a business event that subsidies to auto makers needed to end.

Auto workers are pushing the Coalition Government to bring forward its decision on auto industry funding before it’s too late.

A confidential leaked report by chair of South Australia’s Advanced Manufacturing Council has detailed plans on how the state might cope with the closure of Holden’s Elizabeth factory, which could happen as soon as 2016.

The end of manufacturing for Holden at Elizabeth would be disastrous for SA, costing $1.24 billion and 13,200 jobs according to economic modelling from the Adelaide University.

Holden’s workers will get a 3 per cent wage increase beginning on November 15 as the federal government decides on a new cash injection to keep the car company manufacturing in Australia.

South Australian premier Jay Weatherill has said that the departure of Mike Devereux, Holden’s managing director, has made negotiations between the car maker and governments for further assistance more difficult.

GM Holden has reportedly attached a price of $600 million to shutting down its car making in Australia.

Peter Kelly, the managing director of SPC Ardmona, has said that the federal and Victorian governments should be supporting local food processors and farmers by encouraging public institutions to source locally-made food.