The Manufacturers' Network Newsletter - Oct/Nov 2017
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What the new Government may mean for manufacturers.
We now have the make-up of the new government confirmed and some policy direction released. What we have yet to learn is what government policies will be on some key issues we have listed in our policy platform. These include R&D tax credits, accelerated depreciation and the future of Callaghan Innovation grants, for example. We do know that there will be no Minister of Manufacturing, even though the Coalition saw fit to create new, additional ministries in other areas, so that is a disappointment. We also know that there is an intention to reduce the number of migrants, but we don’t know enough about the specifics yet to be able to assess the impact on current and continually exacerbating skills shortages. There is a declared intent to focus immigration on skilled migrants, but until we know what the new practice is going to look like, there is always a risk of considerable ‘collateral damage’. And beyond the policy of reducing fees and increased financial support for students in the tertiary sector, which in itself is not a mechanism to target specific skills needs in our productive economy, we have yet to see what policies will be developed to help with the latter....