Australia may increase car industry support

(MENAFN) Australian Prime Minister, Kevin Rudd, said that the government plans to invest in the car manufacturing industry, Xinhua reported. If the Labor government is elected again in September, it will implement its "New Car Plan" adding USD458.36 million in support to the industry which will provide "the critical certainty it needs to invest in Australia." The plan will increase the government's support to the automotive industry to USD275 million annually and an additional USD459 million in the period between 2016 and 2020. The automotive industry contributes in providing 50,000 jobs in Australia . It is considered the largest manufacturing sector in research and development investment.