TCF review announced

NATIONAL: Kevin Rudd's new Labor Federal Government has revealed plans to conduct a widespread review of the TCF sector.

Ragtrader has learned that Senator Kim Carr, the Minister for Innovation, Industry Science and Research, announced plans for the review in early March.
 
The news followed a separate government announcement that the Productivity Commission would undertake modelling on the economy-wide effects of future TCF assistance options.

This modelling would be released publicly and made available to Sydney's Macquarie Graduate School of Management, which would conduct the review in consultation with an industry reference group.

A final report will be presented to Senator Carr by 31 August 2008.

A spokesperson for Senator Carr confirmed the Federal Government regarded TCF as having an important role to play in Australia's economic and social future.

The review would consult closely with all stakeholders to ensure Australia's TCF industries would thrive well into the future, he added.

The review would take into account the changing nature of the industries in the TCF sector and assess their current performance and prospects, he said.