Federal communications minister Malcolm Turnbull has commented on Australia’s opportunities in manufacturing, offering that high-tech industries had the best chance of success.
Following Holden’s announcement on Wednesday that it would cease manufacturing in Australia in 2017, there has been debate about the types of manufacturing the country should aim to be competitive in.
"Because in this converging world the only way we can remain competitive, if we want to remain a high wage economy, with a generous social welfare system, and so forth, is to be smarter and smarter and smarter, and more and more innovative," he told 730 last night.
"You've got to be at the cutting edge. You cannot sit on your laurels and expect to compete with lower wage economies, particularly if they've got large scale."
He said that other high-wage countries had managed to be strong in manufacturing, citing Germany, but being highly productive and innovative were essential.