Bill’s bank a bid for workers
A LABOR government would set up a national blue-collar bank to keep working-class Australians’ jobs.
Opposition Leader Bill Shorten will today unveil his plans for an Australian Manufacturing Future Fund, should Labor win the next election.
The fund would provide concessional loans to small-to-medium manufacturers to help them grow their businesses, retool their workforce and keep alive a struggling industry at the mercy of automation, high electricity costs and cheaper overseas wages. The ALP is making one of its biggest pitches to at-risk manufacturing workers, including the 263,000 employed in NSW.
Mr Shorten said that the fund was needed because too many manufacturing businesses could not get loans from traditional banks.
“This is all about Australian jobs ... Labor is backing Aussie businesses that make things in Australia, by Australians.”
Mr Shorten will outline the plan at Labor’s South Australian state conference.