AUSTRALIA: Labor Party Pledges To Slow Tariff Reductions
Australia's main opposition party says it will review textile tariff reduction proposals if it gets in to power, and will invest funds of A$770 million into the sector.
The Labor party's industry spokesperson, Kim Carr, said the government wouldn't pass legislation for 2010 tariff reductions until an industry review in 2008.
Carr also said that the party would put $500m towards an investment program for the industry, as well as offering other assistance worth $270m including an import credit scheme.
The Australian government announced in 2003 that it would reduce most textile, clothing and footwear tariffs from 10-25 per cent to 5-17.5 per cent by the end of 2009.
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