Worst crisis since Depression: AWU chief Paul Howes

Updated November 6 2012 - 12:33am, first published August 22 2011 - 1:25am

Australian Workers Union chief Paul Howes has demanded more Federal Government support for the steel industry and claims manufacturing is facing its worst crisis since the Great Depression.Responding to news BlueScope will shed 1000 jobs, Mr Howes called for a crackdown on manipulation of the Chinese Yuan, a more robust anti-dumping system and stronger domestic procurement policies for the resources sector.‘‘Today’s announcement is devastating for the families of more than 1400 workers who will be feeling the trauma and distress that comes with the loss of a secure income,’’ he said.

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  • Full text of BlueScope’s announcement to ASX‘‘[It sends] the clear signal that Australian manufacturing is facing the worst crisis it has seen since the Great Depression.‘‘We can’t accept job losses as the norm and we can’t rely on imported goods in our strategic sectors.’’He renewed calls for the Federal Government to pressure the Chinese Government to float their currency, saying it should be ‘‘top of Australia’s foreign policy agenda’’.‘‘Estimates suggest China is undervaluing the Yuan by up to 40 per cent, which just drives export industries and jobs to China at the expense of Australian industry,’’ he said."Australia should be developing a diplomatic effort to make sure China does the right thing and floats its currency to alleviate the pressure on local manufacturers.Mr Howes and Mr Oliver are in Port Kembla today to meet with affected workers.
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