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

The $300 million Steel Transformation Plan will encourage investment, it will encourage innovation and it will encourage competitiveness for the Australian steel manufacturing industry. It will help transform the industry through increasing efficiency and by ensuring that the industry is economically sustainable in a low-carbon economy. The additional support is coming through various investments through the Jobs and Competitiveness Program and through our research program—where we see, for instance, that the CSIRO is working closely with BlueScope Steel and other steel manufacturers to develop opportunities for further innovation in the industry. It is not just a question of the $300 million we are providing through this scheme but of the hundreds of millions of dollars that are being provided through a whole range of measures that this government is committed to.