The National Secretary of the Australian Manufacturing Workers Union, Doug Cameron said that foreign debt was now at record levels, rising to $424.7 billion or nearly $21 000 per man, woman and child in Australia.
"We have seen nothing from this Government, particularly in the last budget that suggests they are taking seriously the coming economic crisis."
"We have no effective national manufacturing policy, no long term commitment to skills and infrastructure investment, and no plans for what happens when economic growth slows."
"What is even more worrying than the continuing trade deficit, is the structure of the deficit. Australia is importing more consumer goods but reducing our investment in the machinery and equipment that will actually produce things here in Australia," Mr. Cameron said.
"Not only are we failing to spend more on capital equipment we are failing to attract foreign investment to secure jobs here."
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1 comment:
Not assured.
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