$9.2 billion program to assist emissions intensive manufacturers that have difficulty passing on costs because their prices are set in global markets.The Gillard Labor Government will provide extensive support for jobs, competitiveness and innovation in Australian manufacturing as it moves to the low-carbon global economy of the future, as well as extra tax relief for small business.
A central element of the Clean Energy legislative package passed by the Senate today is the $9.2 billion Jobs and Competitiveness Program which will assist industries like aluminium, steel, cement, lead and zinc, glass making, LNG and paper manufacturing.
The Jobs and Competitiveness Program will assist emissions intensive and trade exposed activities which release high levels of carbon pollution but have difficulty passing on costs because their prices are set in global markets.
The Senate is also due to consider legislation this week for the Government’s Steel Transformation Plan which will deliver extra assistance to steel makers facing pressures from a high Australian dollar, high commodity prices and weak growth in construction.
The Steel Transformation Plan will provide $300 million over five years to support investments which will allow the sector to transform into a more efficient and sustainable industry.