Prime Minister Tony Abbott will soon announce the assistance package to help workers caught up in HOlden's decision to stop its Australian operation.
Prime Minister Tony Abbott will soon announce the assistance package to help workers caught up in Holden's decision to stop its Australian operation.
Political reporter Mia Greves joins me from Canberra.
Good morning, Mia.
What will workers be offered?
We understand this will be all about helping the regional centres affected by the looming plant closures.
what has happened here today.
Holden mass only recently announced the closure of the plant.
The Prime Minister was in a generous mood early this morning, loading up hundreds of presents from his office for the Salvation Army and that giving spirit will continue onto the automotive sector in the centres of Elizabeth in South Australia and Port Melbourne.
Holden announced recently that it would cease operations in 2017.
That will not only affect 3,000 workers at Holden plants in Victoria and South Australia.
A further 33,000 people in the automotive components sector are also likely to be affected.
We expect the package will include a review of both the South Australian and Victorian economies.
And Mia, the Opposition has accused Treasurer Joe Hockey of cooking the books?
Shadow Treasurer Chris Bowen says Joe Hockey padded the figures in yesterday's mid year economic review in order to build the case for savage cuts.
While the generous paid parental leave scheme will stay, the Opposition believes the Government will target the National Disability Insurance Scheme for budget savings.
The Treasurer told Sunrise this morning funding for health and education will stay the same.
They'll be looking into more efficient ways of spending the money.
Labor doesn't get it.
My opponent doesn't understand it that you can't continue to borrow money just to live day to day.
Sooner or later, the debt is called in.
And the head of the Reserve Bank, Glenn Stevens, is currently addressing the house economics committee here in Canberra.
He says the board is keeping an open mind on if it will further reduce interest rates.
Mia Greves there in Canberra.