18 Dec 2013

$100m jobs fund after Holden exit

8:39 pm on 18 December 2013

Australian Prime Minister Tony Abbott has announced plans for a $A100 million fund to help create jobs in the states affected by the closure of vehicle manufacturer Holden.

Tony Abbott.

Tony Abbott. Photo: AAP

The package will include $A60 million from federal coffers, with an additional $A12 million from Victoria, the ABC reports.

Mr Abbott is hoping for a similar commitment from the South Australian state government and $A20 million from Holden.

Holden's closure will put 2900 people out of work - 1600 from the manufacturing plant in South Australia and 1300 in Victoria

The new fund will provide support for car parts manufacturers to find new customers, for research that leads to new products or processes in the sector, and for existing manufacturers that expand.