ACTU – Turnbull backs offshore manufacturing over Australian jobs

The Federal Government has proposed changes to the Export Finance and Insurance Corporation (Efic) that would allow businesses that offshore their manufacturing and related services to be subsidised by taxpayer money.

The proposal would allow exporters to access government subsidised loans and insurance, even if none of the manufacturing of the exported product takes place in Australia and the goods are exported from a foreign country.

As such, businesses that will be able to access this funding will not necessarily support a single Australian job.

The ACTU has made a submission to the Turnbull Government stating the need to leave in place the incentives for businesses accessing Efic funding to employ local people on our own shores.

Quotes attributable to Ged Kearney, President, ACTU:

• “The lack of support for Australian industry from the Turnbull Government is shocking.”
• “Instead of providing assistance to small and medium Australian export businesses to maintain and create local jobs, the Turnbull Government wants to make taxpayers’ money available to companies that produce and export their product outside Australia.”
•  “With two million Australians either out of or looking for more work, we should be doing everything we can to save every job we can.”
• “Supporting local businesses that employ local people and manufacture on our shores should be the priority of this government, not encouraging offshoring.”
• “This Government simply doesn’t have a plan for jobs in Australia”