Kate Lundy (ACT, Australian Labor Party, Minister Assisting for Industry and Innovation) Share this | Hansard source

As I was saying, the automotive industry supports over 2,800 small businesses, employs 55,500 people across every state and the ACT and supports around 200,000 additional jobs nationally. It is a cornerstone of the wider manufacturing sector which employs around one million Australians. One of the best ways to ensure a strong economy is to invest in our workers' skills. Today the Gillard Labor government has made a firm commitment to supporting car manufacturing in Australia. In fact the Gillard, Weatherill and Baillieu governments have announced together a $275 million co-investment in the future of GM's car making operations in Australia. The federal government's strategic investment will be a contribution of $215 million. In return for this investment—

Opposition senators interjecting—

I suggest senators opposite listen carefully—Holden has agreed to inject over $1 billion into car manufacturing in Australia and make two next-generation vehicles here that will be cheaper to run and better for the environment. Holden has estimated that the new investment package will return around $4 billion to the Australian economy and this partnership will see GM Holden continue making cars in Australia until at least 2022. The agreement will support the jobs of workers directly employed in the automotive sector and support the thousands of secondary jobs in key automotive component manufacturers who supply parts to GM Holden many of whom live in regional Australia.