Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

Senator Abetz has, of course, misrepresented the situation in regard to the government’s support for an EFIC export credit facility for General Motors Holden. The government has provided support through EFIC to General Motors Holden of a $200 million facility which has not been drawn down. This was because EFIC was able to do so through the National Interest Account—it was not able to facilitate this through the commercial account—and because General Motors Holden is a very important part of the new General Motors worldwide.

EFIC’s support was critical to ensure that, in a period of high uncertainty, General Motors Holden was able to be maintained as part of a new global General Motors. It was a decision taken by the trade minister, as is required by law, but it was a decision by the cabinet. As a proposition that was fully discussed within the government, it was not a secret; it was revealed—in fact, I am on the public record on Friday.

I understand that you have been getting certain advice through certain emails. I suggest that is not the process that you should rely upon in these matters. I would have thought that the advice that you have received on these matters is quite inaccurate. You could have relied upon the statements of government ministers that were published in the press last week.