Monday, 8 April 2013

"Co-investment" with a terrible rate of return

Cruze-ing towards oblivion – Source: Holden
From the Australian Government's New Car Plan (2008):
"A New Car Plan for a Greener Future brings the total level of assistance to $6.2 billion between 2008–09 and 2020–21, of which $3 billion is already committed, and $3.2 billion is net new funding. The government expects this assistance to stimulate industry investment of at least $16 billion in new capacity and new technologies – not to mention billions of dollars in wages and salaries for tens of thousands of workers."
This programme has no doubt been worth it to the 500 Holden workers who are soon to lose their jobs. Holden managing director Mike Devereux blames the cuts on virtually everything except the fact Australia produces car types no-one purchases. 

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