Shadow industry minister Kim Carr says the Federal Government has documents that reveal it would cost $300 million extra per year to secure the local manufacturing futures of Holden, Toyota and 160 parts makers to 2025, and less than half that to keep Holden's manufacturing operations alive for the same length of time.
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Carr told Fairfax the information was prepared by senior members of the Department of Industry and Innovation under the previous Labor Government and influenced the party’s policy for automotive manufacturing industry assistance ahead of September’s federal election.

The former industry minister said his successor Ian Macfarlane would have access to the documents and would have been briefed on negotiations designed to see Holden build new-generation Commodore and Cruze models in Australia until 2025 and parent company General Motors invest another $1 billion.

A spokeswoman for Macfarlane said she could not disclose what information the minister received for confidentiality reasons.

But a Liberal party source told Fairfax he believed the figures were accurate, admitting the government would need to reinstate the $500 million it cut from its industry support pledge before the election and boost funding by $300 million per year from 2016 to save Holden, Toyota and the supplier base.

It is believed Macfarlane is trying to convince cabinet members to approve additional funding, though faces significant roadblocks, notably Treasurer Joe Hockey and Prime Minister Tony Abbott.

Abbott last week demanded Holden make its intentions clear about its manufacturing future following speculation that it had decided to cease production from 2016.

The Prime Minister said he wanted Holden to continue building cars in Australia and for the local industry to prosper, but insisted his government would provide no additional funding beyond what it promised ahead of the election.