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PM Abbott’s Holden fund a band-aid on an open wound

The Australian Greens say the Prime Minister's announcement of a $100 million fund for Victoria and South Australia is no guarantee of future jobs after the closure of Holden factories.

"The Prime Minister's fund is a band-aid on a massive wound in the Victorian and South Australian economies," Greens Leader Christine Milne said.

"This announcement does nothing to counter the fact that the economy will be driven backwards in the south-eastern states when the Prime Minister and Treasurer continue with savage cuts in upcoming budgets.

"Mr Abbott is offering limited dollars with one hand while slashing billions with the other, and hoping workers in Victoria and South Australia won't notice - but they will.

"The government has shown it has no idea about jobs of the future by trying to abolish the Clean Energy Finance Corporation, which is creating jobs in the very states impacted by the Holden closures. Propping up coal fired power at the expense of renewables, and ongoing cuts to higher education especially in regional universities, will cost even more jobs.

"Continuing to prop up the old fossil fuel economy is a recipe for more job losses. $100 million won't go anywhere unless the jobs and industries it is targeting are sustainable like electric cars, renewable energy and public transport.

"The government must assist workers to retrain so as to secure jobs in industries of the future and outline what it will do to ensure Toyota and auto component manufacturing survives, including in their trade deal negotiations."

 

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