Business
Holden loses $1m taxpayer funds for shutting down Aussie business – Gold Coast Bulletin
Holden has been cut off from government payments worth more than $1 million following its shock decision to leave Australia.
Holden has been cut off from government payments worth more than $1 million following its shock decision to leave Australia.
Under the Automotive Transformation Scheme, eligible investment in research, development, plants and equipment is reimbursed by taxpayers.
But Industry Minister Karen Andrews has ordered General Motors-Holden be deregistered from the scheme.
The move puts the handbrake on more than $1 million worth of payments and will ensure the company does not receive another cent in…
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