Craig Kelly (Hughes, Liberal Party) Share this | Hansard source

I rise to speak on the Automotive Transformation Scheme Amendment Bill 2014. I would like to note that I was not down to speak on this bill but I could not continue to sit by and listen to the complete gaggle of opposition speakers, one after the other, rabbit on about such nonsense and espouse such fictions, without joining the debate.

I will speak specifically to the bill. This bill is in response to the decisions of Holden and Toyota to cease manufacturing cars in Australia in 2016 and 2017. The Automotive Transformation Scheme is a legislative instrument which provides assistance to registered participants for the production of motor vehicles and engines for those who invest in eligible research and investment and allowable plant and equipment. Effectively, it is a government subsidy. What we will actually be doing is reducing the appropriation for the Automotive Transformation Scheme from $2.5 billion to $1.6 billion.

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