Minister for Defence Industry, the Hon Christopher Pyne MP, tonight launched the Pricewaterhouse Coopers (PwC) Australia’s report, which outlines the significant economic benefits of naval shipbuilding to South Australia over the coming decades.
Minister Pyne welcomed the report which estimates 8000 new jobs will be created in South Australia, demonstrating the impact of the Government’s commitment to this national enterprise.
“This PwC report illustrates just how beneficial to the South Australian economy the Turnbull Government’s $90 billion Naval Shipbuilding program will be.
“This is great news for South Australians currently working in the shipbuilding industry as well those wanting to find work within the industry in the coming years,” Minister Pyne said.
“Not only will there be thousands of new jobs as a result of the Government’s $90 billion naval shipbuilding endeavour, but South Australia will be hallmarked as Australia’s key naval construction centre.
“The shipbuilding aspect of programme alone will triple the South Australian workforce and boost Gross State Product (GSP) by $134.4 billion over the next 40 years.”
“The report also states that for every $10 million in expenditure in South Australia directly related to shipbuilding, there is a total of $24 million in additional gross state product,” he said.
“PwC also estimates that the shipbuilding enterprise will deliver a 3.4 per cent increase in South Australia’s total economic activity. In reality this means adding a total new mining industry to the South Australian economy year on year.
“The Turnbull Government is committed to maximising Australian industry involvement in the naval shipbuilding enterprise and as outlined in the Naval Shipbuilding Plan released in May 2017, the continuous naval shipbuilding and sustainment programs will bring long-term employment and economic benefits to all South Australians.
Report link: https://www.pwc.com.au/publications/pdf/defence-briefing-note-oct17.pdf