The Howard Government should retain the Shipbuilding Innovation Support Scheme to encourage the development and growth of Western Australia’s shipbuilding industry.
The Shipbuilding Innovation Support Scheme (SIS) aims to encourage investment in research and development (R&D) and design innovation, providing assistance for up to 50 per cent of eligible R&D expenditure incurred.
State Development Minister Clive Brown said the development of WA’s shipbuilding industry was an important part of the Gallop Government’s strategy to build a stronger economy and more jobs and opportunities.
“WA’s shipbuilding industry has been going through an exciting period of growth, assisted by the State Government’s investment in Perth’s Australian Marine Complex,” Mr Brown said.
“However, rising interest rates are contributing to a higher foreign exchange rate that could compromise the competitiveness of this important new industry.
“I call on the Howard Government to assist WA’s shipbuilding industry in these new economic circumstances by retaining SIS and giving the industry the best possible chance of growth.
“Should the Howard Government make the decision to axe SIS, then WA shipbuilders will be at a significant disadvantage to their international competitors, who are in most circumstances supported by their respective governments.”
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