Australian Auto Review Recommends

The Federal Government has released its review of the Australian automotive industry.

It makes a number of recommendations likely to be implemented by the Federal Government including a new transitional phase with the goal of achieving economic and environmental sustainability by 2020.

Key recommendations include:

1. replacing the ACIS production volume subsidy with a new Global Automotive Transition Scheme

2. the Federal Government contribute to a short-term automotive industry restructure fund

3. bringing forward to 2009 and doubling to $1 billion the Federal Government’s Green Car Innovation Fund

4. encouraging the Federal Government to include transportation (including fuel) in an emissions trading scheme

5. reducing tariffs to 5 percent by 2010

6. encouraging expanded Free Trade Agreements

7. the use of automotive ambassadors to expand overseas markets

8. harmonising and in some cases reducing motor vehicle taxes

9. establishing an Automotive Industry Innovation Council

(information courtesy HWL Ebsworth Lawyers)

For the full review www.innovation.gov.au/automotivereview/Pages/ReviewofAustralia'sAutomotiveIndustry.aspx

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