The Economic Development Of Australia

1921 Words Aug 28th, 2016 8 Pages
The industrial capacities of a particular nation play a curial role in the economic development. Most importantly, when the domestic market is in full support of the industrial outcomes, the nation prides on the local manufacturing capabilities and realised lots of benefits. Australia is one the countries that has had a vibrant car manufacturing sector spanning over six decades. Along the way, the evolution of the car manufacturing has consistently met the local demand of the people. On the same note, the commitment of the Australian government towards the development of the local manufacturing sector has been outstanding. As such, the sector has enjoyed the support from the federal government ranging from financial support, marketing channels and provision of incentives among many other aspects. For decades the industry players such as Holden, Iveco, Toyota, Rootes, Ford Australia Renault Australia, Nissan Australia, as well as Mitsubishi Motors Australia among other have enjoyed the support of the existing political systems.
Nevertheless, Westbrook (2016) reflects that the Australian-made cars are swiftly becoming a lost memory. It has been attributed to the change in the political climate. As echoed by Clibborn et al. (2016), the accelerated decline in the local car industry took root when the new Coalition government renounced its support for the industry. With the regards to expenditure, the political leaders outlined that the government would cut its spending on the…
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