The Prime Ministers Commission of Audit will undermine Australias economic future with its cuts to services helping small and medium-sized businesses to break into new export markets.
The Commission of Audit has recommended major cuts to Austrade, scrapping the Export Market Development Grants program and abolishing the Export Finance and Insurance Corporation.
This is a short-sighted move that would hurt hard-working small and medium sized businesses and jeopardise Australias future as an exporting nation.
It would mean fewer job opportunities for Australian workers in the future as our SMEs will be left to fend for themselves in developing new export markets.
Austrade provides extensive practical support to Australian firms in developing international markets, attracting new investment, and promoting our tourism and education industries to customers overseas.
The Export Market Development Grants help SMEs promote their goods in overseas markets while the Export Finance and Insurance Corporation provides finance for Australian businesses to help them secure export business.
It is ironic that the plan to scrap these services was unveiled on the same day the Trade Minister Andrew Robb was boasting about helping Australian businesses to win new contracts in China.
Australian businesses will find it harder to expand into new markets like China under the Commission of Audit cuts.
These cuts prove that Mr Abbotts statement that Australia is open for business was just another Liberal lie.

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