Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

The government is also providing $30 million in conjunction with the state government of New South Wales and the company to provide new investment opportunities for the Illawarra region. We should not, under any circumstances, under­estimate the gravity of the challenge that is facing Australia. On the other hand, it does not mean that we are helpless in the face of the enormous structural changes that are occurring within our economy. We have to constantly remind those opposite that it actually makes sense to manufacture in Australia. However, we cannot compete at the bottom of the market. We can and do compete on the strength of our ideas. There is a growing international consensus that investment in research and development is the only way that nations can hope to transform their economies and build on quality and build higher paying jobs. That is why countries like China— (Time expired)