Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Having regard to the stressed financial position of both General Motors and Ford, how will the Prime Minister ensure that none of his $6 billion car plan is used to prop up the ailing balance sheets of the parent companies in Detroit?

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

First and foremost in our assistance to the Australian auto industry, we believe it is necessary to provide that industry with confidence for the long term, because we have in that industry many, many thousands of Australians employed and many further tens and hundreds of thousands of Australians who are employed indirectly as a consequence of the auto industry in this country, in the parts and supply industry. It is because of the significance of the industry to jobs in Australia that the government has taken action. We have taken action both in this area and in our broader economic stimulus package because we are engaged in a war against unemployment. We are engaged, therefore, in taking all necessary actions to ensure that we support positive growth in jobs into the future.

On the specific part of the question which was raised by the Leader of the Opposition about the construction of the financial package for the auto companies, the honourable member will be familiar with the fact that the dollars provided in that package are entirely conditional on co-investment from the companies concerned and, as a consequence of that, that investment has to be delivered in order for payments to be paid. There is, therefore, an appropriate guarantee for the Australian taxpayer and appropriate support for Australian jobs going forward.