Govt's response to jobs crisis 'almost negligent'
These are the words by Liberal MP Joanna Gash who is using the latest economic modelling by the University of Wollongong and the Illawarra Regional Information Service.
Basically the report is in two parts as follows:
- That BlueScope Steel's August job cuts would cost the region 2567 jobs, $208 million in household income and wipe $743 million off the value of the Illawarra economy.
- The closure of the steelworks and shutdown of the Illawarra's steel-manufacturing industry would lead to more than 10,000 job losses and cost $860 million in household income, reducing the value of the regional economy by $2.41 billion.
|BlueScope Steel works - government support minimal!|
One particular comment in the articles above from an Illawarra reader is a follows:
What about the rumour off them losing $1M/Day & paying the employees from the $90M carbon tax 1st installment. Thats already gone.They are still exporting steel overseas at a huge loss because they have flooded the domestic market & cant sell it. What about the other rumour about them importing slabs & coils for trials.IT AINT NO RUMOUR!!! Just a coincidence that it makes the headlines prior to them making the BIG June annnouncment. STAY TUNEDPosted by rumourmonger, 15/05/2012 11:14:48 AM, on Illawarra Mercury
The big June announcement is what?????
The main point above regarding the report on the economic impact in this region - is the fact that the $30 million Illawarra regional investment fund, jointly funded by Federal and State governments, along with BlueScope Steel, would do little to help the area get back on its feet. Yet BlueScope got an early payment of $90 million? BlueScope still want to dominate the coil steel market in Australia - even if it's imported - but is badged as MADE BY BLUESCOPE and not Made in Australia!
Along with the latest housing figures, ASX sharemarket falls, and general no confidence in the economy - the next 12 months plus are going to be difficult!