As the Coalition calls the policy regressive, the PM lays out plans for government intervention in manufacturing and green energy.

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The Coalition has rejected the Labour government's plan to bring manufacturing capabilities onshore through increased public investment in domestic industry, arguing that it would hinder economic growth. The Future Made in Australia Act, unveiled by Prime Minister Anthony Albanese on Thursday, aims to accelerate the clean energy transition by infusing government funds into the technology and infrastructure sectors. The Prime Minister hailed the interventionist plans as a modern take on protectionism in a speech to the Queensland Media Club. Rather than attempting to retreat from free markets and global trade opportunities, the plans would realign Australia's economy to spur job growth and improve job security for the country's citizens.

“What we know is on a case-by-case basis, that the opportunities are there to grow enormous jobs. Take for example the announcement that we made in Liddell just a couple of weeks ago. This is an old coal fired power station that the former Government we used to hear day after day in question time, it'd stay open and of course it's shut, as did a range of those power stations under the former Government. And there's timetables for a closure, a transition of industry is happening now. There was fear about what that would mean. SunDrive, just one company that can benefit from our Solar Sunshot program, is looking at employing more people there, building the most efficient solar panels in the world in an agreement, a deed that they have with AGL already, there will be more people employed just there in that one company on that one site than were employed under the former power station.” He said .

He continues ,"And that's just one of the activities taking place on this site. So, we think that in terms of opportunities, one of the things that we know is that without acting, it's not as if things will stay the status quo. Rio Tinto, for example, has just done the largest deal on renewables for the facilities around Gladstone, that's been done in Australia. Either there's a transition and they thrive and employ more people, or they employ far less. One of the things that we have done is look at what the opportunity cost is as well, of not acting, and that's severe. That's a loss of jobs, a loss of communities, a failure to transition, because the rest of the world is moving on this. And so we are very positive that across the board by government putting in place structures that facilitate and provide that catalyst for private sector activity, what we'll see is a great many more jobs grow in the future and a great deal more security as well for existing processes like metal manufacturing, be it aluminium or steel in this country, and that you'll see substantial growth in jobs.”

However, shadow treasurer Angus Taylor contended that reducing government interference and boosting private investment was the only way to boost productivity and competitiveness.

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Beyond Zero Emissions (BZE) warmly welcomes the Australian Government’s announcement of the Future Made in Australia Act. 

BZE CEO Heidi Lee said the independent think tank had been calling for government investment in Australian manufacturing capability, having highlighted through its research that Australia’s natural advantages in terms of existing infrastructure, materials, a skilled mining industry, regional workforce and more.

“This is excellent news for every Australian household, who will see the cost of energy fall as we bring online new renewables at scale, and for local businesses to sell their products into the clean economy” Ms Lee said.

“Communities in regional Australia stand to benefit from the investment in affordable and reliable clean energy, and modern infrastructure that will link our resource-rich areas to clean industry clusters built around our established ports and smelters. This will see jobs and prosperity flow to places that need it most.

Meanwhile, Geoff Crittenden (CEO, Weld Australia) said , “Weld Australia congratulates Prime Minister Albanese on his announcement of the Future Made in Australia Act. It has real potential to ensure Australia has affordable, reliable clean energy, a strong manufacturing industry, skilled workers, secure jobs and modern infrastructure. It could see Australia become a renewable energy superpower.”

THE CLIMATE COUNCIL celebrates today's announcement that the Future Made In Australia Act is soon to roll off the Federal Government's policy production line.

Climate Council CEO Amanda McKenzie said: "This is exactly the sort of leadership Australia needs to tackle climate pollution, generate clean jobs, and ensure a brighter future for our kids. In the US we’ve seen similar policies dramatically ramp up investment and create tens of thousands of new jobs. As one of the sunniest and windiest countries in the world, this is a huge opportunity for Australia.

“The Act could be a game-changer that facilitates immediate investment to match the global clean energy shift, supercharge new industries, and cement Australia’s advantage in clean energy.

“Diversifying into sectors like clean manufacturing and critical minerals is essential. Developing these sectors will not only boost our economy but also help us slash climate pollution.”

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