Stephen Jones (Throsby, Australian Labor Party) Share this | Link to this | Hansard source

Yesterday, parliament approved the steel transformation plan, a $300 million package of assistance to the steel industry which runs from 2011 to 2017. It is funded from the budget and is not contingent upon any carbon price revenue. The purpose of the scheme is to encourage investment, innovation and competitiveness in the Australian steel manufacturing industry as it transforms into an efficient and economically sustainable industry in a low-carbon economy.

I note that the member for Gilmore opposed the bill. On Illawarra radio this morning she said she did not vote for it because she did not understand it. I have a copy of the explanatory memorandum here, which I am happy to provide to the member for Gilmore. I ask her: will she change her position; will she support the local steel industry? And will the opposition close the fund if they ever find themselves on this side of the House, which would cease payments to the steel industry and cease support for this vital industry. It is an important question because the industry is making long-term plans about its investment. If those opposite ever find themselves on this side of the House and close down the fund, it will mean jobs in the Illawarra.