Pacific Brands' decision to cut 1850 jobs says a lot more about the ineptitude of the company’s board and management than about Australia’s textile, clothing and footwear industry policy or, for that matter, the Government’s stimulus packages.

The Opposition yesterday was trying to use the closures to justify its position on the stimulus packages. If I can work out the logic, the Coalition seems to be arguing that the closures show that the first stimulus package, which it supported, didn’t work, but this doesn’t mean the second stimulus package was needed, only that there should have been a different stimulus package, presumably involving tax cuts.