By Deanne Jeffers
VICTORIAN Opposition Leader, Matthew Guy announced the Coalition’s $2.5B fund to boost manufacturing throughout Victoria.
Under the proposed plan, $1B would be allocated to regional Victoria and companies like Med-Con in Lemnos, who Mr Guy used as an example of the need to diversify regional manufacturing.
According to the Liberal Party, Med-Con received assistance from the State Government to increase face mask production in Lemnos, but once stockpiles were filled, returned to purchasing masks from cheaper foreign-owned companies.
Announcing the billion-dollar-fund with the State Member for Murray Plains, Peter Walsh, Mr Guy said, “It’s time we could rely on our own supply chain,” and explained that COVID-19 was the wakeup call Australia needed to reinvest in manufacturing.
“Under our plan, $1 billion will be invested in regional projects to support communities across regional Victoria becoming manufacturing hubs once again.”
Mr Guy also acknowledged that financial investment was not enough to revitalise manufacturing on its own. Addressing land shortages, skills, and training shortages would be crucial to improving regional economies. Working with local councils and universities, and in particular, bringing back international students, would be the first step in rewriting Victoria’s missed opportunity in manufacturing.
