Michael Ronaldson (Victoria, Liberal Party, Minister for Veterans’ Affairs) Share this | Hansard source

I thank Senator Bushby for his long interest in Australian manufacturing and the role he plays in relation to the appropriate Senate committee. I just thought that the chamber might be interested to see manufacturing levels over the term of the former government. The manufacturing industry's share of GDP has fallen over recent years and it is now at 7.1 per cent, having fallen from 8.5 per cent in 2006-07. Manufacturers invested around $9.6 billion in new capital equipment in 2012-13. This was 22 per cent below investment levels in 2006-07. The manufacturing gross operating profit was at its lowest recorded level in 2012-13, at 7.5 per cent. By comparison, in 2006-07 the margin was 10.6 per cent. In August 2013 there were 921,400 people employed in manufacturing, 118,500 fewer than in August 2007. Manufacturing now accounts for eight per cent of total employment, compared with 9.9 per cent in 2007.