Ford and Holden gone. SPC Ardmona in jeopardy. Toyota under threat. The Productivity Commission’s (PC) position paper on automotive industry support fires a clear shot across the bows of the manufacturing…
- School of Social Sciences, Monash University
A substantial increase in vehicle manufacturing is needed if Australia is ever to have a sustainable car industry, according to preliminary findings released today by the Productivity Commission’s inquiry…
Quick quiz: which southern hemisphere central bank governor from a large island continent said this in June 2012? “There are big benefits to us as consumers from the high currency…We shouldn’t wish too…
“Building cars in Australia is just not sustainable.” That was GM Holden managing director Mike Devereux, announcing the closure of Holden. Ominous words for Toyota as well. Toyota responded that Holden’s…
In 1991, Michael Pusey unleashed Economic Rationalism in Canberra: A Nation-building state changes its mind. In his book, Pusey took aim at the Canberra econocrats who ruled the key federal government…
Forget APEC. That is so 1997. Prime Minister Abbott has recently established an ambitious – not to mention exceedingly optimistic – deadline of 12 months to conclude a Free Trade Agreement with China…
“By international standards our support [of the automotive industry] is modest, so we have to work hard to attract the new investment.” – Industry minister Senator Kim Carr, Lateline, 22 July. The idea…
Psst! Want to buy an Australian-made car? You better be quick. Holden is reportedly requesting a further $265 million in subsidies from the federal government in order to retain its manufacturing operations…
“You’ll never see Japanese cars in an RSL car park.” That was Bill Bourke, Ford Australia’s sales supremo of the ’60s. Bourke was wrong. Dead wrong. In 2016, Ford will cease manufacturing in Australia…
Australia’s inflation rate remains under control, potentially adding to the argument for the Reserve Bank to leave interest rates where they are, experts said today. But one economist has warned the Reserve…
Holden’s announcement of job cuts on Monday demonstrates the dual impacts of the strong Australian dollar and import penetration upon the beleaguered domestic automotive industry. 400 jobs will go in Adelaide…
Uninsured savings over €100,000 deposited in a troubled Cypriot bank may be subject to a new levy, under a deal reached to save the Cyprus banking system. The European Union (EU) finance ministers, the…
In a surprise move that shocked investors and commentators alike, the Republic of Cyprus announced plans last weekend to impose a levy on bank deposits. However, Cyprus’ prime minister, Nicos Anastasiades…
British Prime Minister David Cameron has announced an “in/out” referendum for UK voters on European Union (EU) membership, scheduled for 2017. There were few surprises in this, as the full text of his…
In a rare volte-face, the International Monetary Fund this week admitted that it grossly underestimated the impact of the austerity regime it advised Europeans to adopt. A paper authored by IMF chief economist…
Middle-income tax increases, corporate tax cuts and below-inflation increases in maternity leave and housing allowances form the centrepiece of British Chancellor of the Exchequer George Osborne’s Autumn…
It would be the world’s largest aerospace and defence contractor. Bigger than Lockheed Martin. Bigger than Northrop Grumman. And even bigger than the current global No. 1 defence corporation, Boeing. The…
The European Union. Love it? Loathe it? All of the above? The Wall Street Journal writes that Euro chic is back in fashion. EU chic — to be precise. The 12 gold stars that form the EU flag are not exactly…
“I’d love to have the German army in Australia,” Hugh White said wistfully. The date was July 2004. The place was the bar on the fourth floor at the Department of International Relations, London School…
Ford’s announcement on Tuesday of 440 job cuts is the culmination of almost 40 years of automotive industry policy failure. Ford will slash 15% of its workforce and cut production by 29%, as the industry…
Think Australia is immune to global downturn, depression and despair? Think again. One would be plundering the depths of naïveté to believe that Australia can continue to exist in an oasis of economic…
Greece’s New Democracy leader Antonis Samaras begins the task of building a coalition after emerging as the front runner to form a government. Reports indicate New Democracy has narrowly beaten leftist…
In a widely reported speech on June 2nd, financial baron George Soros gave the European Union 90 days to address the debt crisis engulfing the continent. The man who “broke the Bank of England” in 1992…
At least one legacy of Kevin Rudd’s prime ministerial career has survived: his campaign to obtain a temporary seat for Australia on the UN Security Council (UNSC). Elections for the two-year position take…
Australian foreign minister Bob Carr was interrogated about Australia’s alliance with the US in three separate meetings with Beijing’s leaders last week. “Make no mistake, the re-emergence of China, and…
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