Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

When the Labor Party committed $573 million to the automotive sector in 2008-09, Ford announced 350 redundancies. And Labor responded and committed $6.2 billion in a 13-year long plan to create environmentally friendly cars. Then in 2010 they came up with a new policy; a new plan: Cash for Clunkers. We remember that. People could get grants for $2,000 to scrap their pre-1995 motor vehicles. But at the same time that they were announcing putting in more money, our share of global production of cars had halved since the year 2000. The Australian motor vehicle industry is selling fewer cars in Australia and is exporting fewer cars—half the percentage of global production of what it was a few years earlier. But Labor committed more money.

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