Bloomberg have an article saying “The fate of Australian car plants run by General Motors … and Toyota … hangs on the Sept. 7 election “
Says the article:
- Current PM Rudd has set aside A$5.4 billion for the domestic car industry until 2020 and pledged another A$700 million during the campaign (so a total of $A6.1bn)
- Opposition leader Abbott “wants to cut A$500 million from the subsidies by 2015 “
According to my trusty calculator, then, the bidding is $6.1 bn from Rudd and $5.6 bn from Abbott.
I think I should submit a proposal for subsidising ForexLive in Australia. Just a couple of billion $ would do.
File this under “Dude, where’s my (ongoing) bail out?”