Wed, 14th May 2008

Flagship industry development programme cut

Senator the Hon Eric Abetz
Deputy Leader of the Opposition in the Senate
Shadow Minister for Innovation, Industry, Science and Research

The Rudd Labor Government has entirely cut the flagship Industry development programme in Australia, Shadow Innovation and Industry Minister, Senator Eric Abetz, said today.

“The entire removal of the highly successful Commercial Ready program - $707.2 million over four years – will leave businesses looking for a little extra help to commercialise new and innovative technologies with nowhere to go except overseas”, Senator Abetz said.

“This is a broken Labor election promise – prior to the election, Senator Carr was promising only to shave Commecial Ready by a total of $160 million – not totally abolish it.

“It also pre-empts and makes a mockery of Senator Carr’s much-vaunted Innovation Review, which in the Minister’s own words is “examining…government innovation and industry assistance programs”.

“This Inquiry is not due to report to Government until July 31 this year!

“If the Rudd Labor Government really was serious about supporting industry and innovation in Australia, it would not have entirely removed this programme – particularly before its own inquiry had delivered its findings.

“Once again, it shows with Labor, look not at what they say, but what they do.