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Old 05-27-2002, 21:09   #1 (permalink)
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Read Holden push to lift exports

From The Daily Telegraph

ASSISTING research and development for Australian car companies could lift exports by at least $1.2 billion a year.

That's the finding from an Access Economics study which formed part of Holden's submission to a Productivity Commission hearing into car industry assistance.
The Access study shows that by switching industry assistance from production to R&D, extra net exports by Holden alone would average $1.2 billion a year between 2008 and 2012.

Other benefits of committing assistance to research would be an increase in company tax, lower car prices for Australian consumers, greater competition in the car market and increased use of labour and parts.

Access said by the final year of the assistance program in 2012, Australia's GDP would have risen by an extra $1.2 billion, with 6800 more people in jobs.

Private consumption would also be up $780 million, leading to a total improvement in economic welfare of $4 billion.

Holden's submission to the commission argues against reducing government assistance to the domestic car industry.

However, Holden argues that assistance should be redirected away from production and into R&D to maximise the positive economic effects.

Holden said Australia's car industry had now largely caught up with global industry practice under the reduced tariff regime.

This meant that any further reduction in assistance would have a negative impact on industry employment levels.

"Reductions in assistance translate, particularly in the short term, into less domestically produced cars sold and therefore less jobs producing them," Holden claimed in its submission.

Holden said job losses caused by lower assistance were likely to be concentrated in vulnerable areas and be felt more by older workers.
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