Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

Hang on: Labor announced Cash for Clunkers and then withdrew it, they announced that they were putting money into a Green Car Innovation Fund and then they closed that and then they announced the closure of the LPG vehicle scheme. That is $1.4 billion of promises to the motor vehicle industry, and then the Labor Party pulled the rug out from under them.

What was the reaction of Mike Devereux? Listen to what he said in June 2011:

We cut a deal with the prime minister of the country in the Lodge back in ’08, showed our business plan, as did Ford, as did Toyota, made investments and then midway through ... the rules of the game changed.

Listen to this—Mike Devereaux, the head of Holden, said:

So it certainly worries a multinational parent—

company—

when sovereign risk begins to be something that is bandied about in terms of doing business with Australia.

That was in June 2011 when the head of Holden was warning that the Labor government was creating sovereign risk here in Australia for General Motors. But wait: there is more.

Ms Kate Ellis interjecting—

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