Industry Update congratulates the Coalition on its election victory.
During the election campaign PM Tony Abbott pledged his support for Australia's manufacturing industries.
The Coalition remains committed to a strong Australian-based manufacturing sector, said Mr Abbott.
He has promised to “remove the shackles that are holding the sector back” and is "confident that manufacturing will again start to expand.”
With a healthy majority, the Government has been given a clear mandate to now put its policies in place.
We welcome the appointment of Ian Macfarlane, an experienced campaigner, to the key Industry portfolio.
Mr Macfarlane was Minister for Industry, Tourism and Resources in the Howard Government from 2001 to 2007.
He won the portfolio at the expense of Shadow Minister for Industry Sophie Mirabella, who narrowly lost her Victorian seat of Indi to Independent Cathy McGowan.
And senior liberal Andrew Robb, the Shadow Minister for Finance in Opposition, has been rewarded with the newly created portfolio Trade and
Mr Macfarlane and Mr Robb will be tasked with driving a new wave of investment in Australian manufacturing, resources and agriculture.
At the core of its policies the new Government plans to abolish the carbon and mining taxes to give industry some much needed breathing space.
The Coalition has also pledged to cut red tape to the tune of $1 billion a year and lower company taxes by 1.5 percent.
It has also promised to provide an initial $50 million in export market development grants and put $50 million into a manufacturing transition fund.
A review of Fair Work laws and tougher anti-dumping laws are also on the agenda.
It’s an ambitious program and we look forward to the new Government now putting its words into action.