Holden workers unlikely to know fate for weeks as shutdown looms HOLDEN workers will likely go into the summer holiday break not knowing their fate even though a shutdown of the iconic car factory has become a foregone conclusion. General Motors in Detroit is yet to sign off on a decision, but the closure of the iconic Elizabeth car factory in South Australia is now understood to be a formality. This comes as yet another Federal Government MP has flagged there is no extra money for the struggling car-maker, which has threatened to close without taxpayer assistance. Holden managing director Mike Deveraux has been asked to deliver Holden's submission to the Productivity Commission tomorrow, which will hand down its interim report on the future of the industry and the end of next week. Holden workers outside the car maker's Elizabeth plant. News Corp Australia understands Holden is under pressure from the Federal Government to announce the shutdown before Christmas, but with each day that passes it is more likely to happen in the New Year. Parliamentary Secretary to the Prime Minister Josh Frydenberg said it was the not the job of government to save every business that was in trouble and to do so would amount to "intergenerational theft." Mr Frydenberg said the carbon tax was to blame for pressures on Holden. " (The role of government) is not to be there as the bank of private enterprise," he said. If that's the case we will increasingly see Australia's debt increase, and that's what happened under the Labor Party, and that is an example of intergenerational theft because you are taking away from future generations by leaving them the interest bill on government debt. The closure of Holden's Elizabeth car factory is now understood to be a formality. Opposition treasury spokesman Chris Bowen said the Coalition should not just stand by and let it shut up shop. "It's too important to just let (Holden) leave lightly," he said. It's too important that it be the subject of a public squabble and fight between cabinet members. It's too important for the sake of $500 million to just let it walk out the door. If the factory were to close the Holden brand and the dealerships would remain. But it would become an import-only brand, sourcing most cars from South Korea and Thailand. Last week Tony Abbott called on Holden to make clear its intentions and ease the concerns of its workforce. He said despite the business concerns of the ailing car-maker it would not get extra taxpayer assistance. Mr Bowen said more also needed to be done to ensure Qantas remained Australia's strong and successful national carrier. "Qantas is a big part of our economy on so many levels," he said. Asked if the government should consider putting some equity into the airline to help boost its bottom line, Mr Bowen said: "We need to have that discussion." "We would look at all the options ... a small stake from the government would send a signal that this was a body with which the government had a keen interest," he said. We want to have a constructive discussion about the best way forward. Last week Qantas revealed it was facing a profit loss this financial year and needed to find $2 billion in savings over the next three years. The airline also announced it would be cutting an additional 1000 staff as part of its austerity drive.