The Australian government will not support the legendary wool factory
The federal government of Australia has denied financial support woolen factory Launceston#39;s Waverley, though a guarantee to provide work for 90 workers if the company would have to stop their work. Legendary factory with 130 years of history had to buy Westpac Bank. The recipient assumes announce the sale or termination of the business in the near future. Working Waverley expect the state government to patch the hole in the budget Westpac for a certain period, and in the meantime the company will be able to find other investors or strengthen their positions.
However, Dzhidings Lara (Lara Giddings), Minister of Economic Development, explained that the state government will not be profitable to invest in the company, as its position in the tax office does not improve. The federal government has no right to pay taxes for a private company #39;, she added. It would be a setback to lose the legendary factory Waverley, which successfully withstood the strong competition of Asia.
Factory Waverley is a leading supplier of blankets to the major department stores are Australian Qantas and TT-Line, as reported fibre2fashion.com.
