Tony Abbott: No Extra Funds For Toyota

Toyota plant in Altona / Getty

Toyota’s manufacturing future in Australia is uncertain after Tony Abbott has announced the car manufacturer will not receive government assistance beyond the Automotive Transformation Scheme.

Despite fears the company could follow Holden’s lead, Abbott has said “there’s every chance that we can keep Toyota but the level of assistance that Toyota can expect is roughly the same level of assistance that they have previously received,” reports The Sydney Morning Herald.

The Prime Minister also made it clear that if Australia was to continue to manufacture cars the focus has to be on reducing the tax and regulatory burden for business, and increasing productivity.

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