It took its name from Senator John Button, the then federal Minister for Commerce, Trade and Industry.
It came into effect in 1985, after Senator Button visited Japan to inform the car companies there of the content of the plan.
[3] The overarching aim of the scheme was to make the motor vehicle industry in Australia more efficient through consolidation of resources, and so allowing the import tariffs to be gradually reduced.
Tariffs were reduced further in 2005 and 2010, and most remaining assistance was removed after 2015, leading to the end of manufacturing in Australia.
This arrangement dissolved in 1989, and General Motors–Holden and Toyota formed United Australian Automobile Industries (UAAI).