Recent months of political chaos in a national level has done little to foster the confidence of Australian manufacturers.
However there’s now some light – yet dim – at the end of the tunnel after the launch of the federal government’s long awaited Business and Innovation Statement. The $1 billion Strategy for Australian Jobs, at least provides a clear pattern for the future.
The Strategy, made to reinvigorate many ailing business sectors, addresses lots of the challenges now facing Australia’s manufacturers.
It comes in a crucial time for manufacturers who’ve been battered by a powerful Australian dollar, intense international competition and dramatically rising energy prices.
Among the crucial challenges facing the production business one key challenge would be to lift productivity, which has been in decline for almost a decade.
Australian manufacturers must be advanced, to survive.
Great emphasis is placed by the new Plan on innovation, with a powerful focus on creating high skill jobs. Under the Strategy local producers are going to have greater access to big national jobs, creating a more level playing field.
In Addition, powerful antidumping measures will further protect manufacturers affected by a myriad of inexpensive imports. On a negative note, it’s disappointing the government means to finance its new initiatives in the R&D tax credits available for some of Australia’s biggest and most advanced companies.
The future of Australian production is at risk,