Holden Cut From Australian Government Support

The Australian federal government has moved to ensure global car giant General Motors “doesnt see another cent in taxpayer support” after its decision to wind up the Holden brand in Australia.

Before Senate inquiry on August 3 into the retirement of the Holden Brand, Industry, Science and Technology Minister Karen Andrews said more than $1 million in payments had been stopped after GM Holden was deregistered from the Automotive Transformation Scheme.

“I, like most Australians, was extremely disappointed at GM Holdens decision to walk away from our country, their local workers and loyal dealers,” Andrews said.

“Australian taxpayers have given this multinational company more than $2 billion in financial assistance over recent years, and it still decided without consultation to wind up the Holden brand in Australia.

“I think youd be hard-pressed to find a single Australian who thinks GM Holden should receive financial support from the federal government in the same year they announced theyre leaving our shores.”

The ATS reimburses eligible investment in research and development, and plant and equipment.

The decision to deregister GM was made on the basis that Holdens activities would no longer encourage competitive investment and innovation in the Australian automotive industry, the government said.

It reflects the loss to automotive research and development in Australia, including GM design and engineering teams and the closure of GM Holdens Lang Lang Proving Ground and Port Melbourne design studio.

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