Shadow Minister for Innovation, Industry, Science and Research, Senator Kim Carr, will join Senator Deb O’Neill, Emma McBride MP and ALP candidate for Robertson, Anne Charlton in hosting an industry round table with local manufacturers in Ourimbah today.
Labor wants to hear what issues are facing local Central Coast manufacturing firms and how Labor’s suite of industry policies can be tailored to work best for them.
Manufacturing firms are critical to the prosperity of their local communities. Manufacturers directly provide jobs and they indirectly provide jobs and income for their supply chain. By innovating they create new opportunities and develop the skills and expertise of their workforce.
Labor wants Australia to be a successful advanced manufacturing nation because local communities will be stronger when local firms are stronger. We will support those firms to grow their business.
Labor will support firms to innovate through our $1 billion Advanced Manufacturing Future Fund (AMFF).
Labor’s AMFF will support innovative Australian manufacturing firms who want to grow their businesses and create jobs, but who might find it difficult to obtain private sources of finance.
Labor will encourage business to invest in this country through the Australian Investment Guarantee (AIG). The Guarantee will provide accelerated depreciation incentives for new capital equipment investments.
The AIG will enable businesses to deduct up to 20 per cent of the value of new investment in the first year, with the balance depreciated in line with normal depreciation schedules from the first year.
The investment can be new machinery, plant and equipment, trucks and utes and for knowledge assets such as patents and copyrights.
Labor’s focus is on creating new and enhancing existing Australian jobs.
While Turnbull and his Liberals give tax handouts to multinationals and millionaires, Labor is backing Aussie businesses that employ Australians to make things in Australia.
Labor has a strong plan that will support local manufacturing firms and jobs including:
Labor is backing Aussie businesses that employ Australians to make things in Australia. To achieve this, government needs to assist firms to modernise and move into high-value, high skill production.
When it comes to Central Coast jobs and manufacturing the choice between Labor and Liberals could not be clearer.