The march of neo-liberalism

The march of neo-liberalism



"In December 2012 Toyota announced the opening of its new engine plant at Toyota Australia’s centralised manufacturing operations in Altona, a western suburb of Melbourne. This was a little more than a year ago. Although times were tough then with a historically high Australian dollar, a fragmented market, almost no trade protection and only moderate government co-investment (to partially compensate for relatively high Australian wages), Toyota must still have seen a future for the Australian automotive manufacturing industry.

These external negative factors have not really changed from one year ago. If anything, the Australian dollar has fallen so conditions should in reality be better.

What is different is the attitude of the current Federal Government, with their hardened attitude of the government’s primary economic advisory body, the Productivity Commission. The Productivity Commission recently recommended that all government support for the Australian automotive industry cease by 2020. This is effectively a decision that declared an Australian automotive manufacturing industry is not welcome past 2020 and that the government’s key advisers want the industry to, simply, close down."
Excerpt from the Article