Prime Minister Anthony Albanese has unveiled a vision for a future Made in Australia which includes investing in advanced manufacturing and renewables as well as upskilling the nation’s workforce to seize the opportunities of the next decade.
At the centre of this ambitious plan is a $15 billion National Construction Fund to broaden and diversify the Australian economy.
The fund’s focus is on transforming Australia into a clean energy superpower with $1 billion dedicated to advanced manufacturing.
This investment will create new capabilities and opportunities to innovate in transport, defence, resources, food processing, renewables and low emission technologies manufacturing.
It also includes an Australian Skills Guarantee to give apprentices, trainees and cadets a foot in the door when it comes to working on major Commonwealth projects.
This means one in 10 jobs on federally funded projects will go to apprentices and trainees.
Albanese said the plan will be supported by the introduction of the Future Made in Australia Act which will be introduced to parliament in coming months.
The legislation will provide a coordinated response to build a more competitive renewable energy industry, create new job opportunities, and ultimately set Australia up for future economic success.
Albanese said the first four years of this decade have tested the resilience of the national economy.
This includes floods, bushfires, a global pandemic and the most significant international energy crisis in 50 years which has led to profound economic consequences on supply chains, energy prices, inflation and interest rates.
“These global shocks – and their aftershocks – continue to impact our economy and our budget,” the Prime Minister said.
“This decade marks a fundamental shift in the way nations are structuring their economies. A change every bit as significant as the industrial revolution or the information revolution – and more rapid and wide-ranging than both.”
Albanese said domestic economic policy settings are being re-shaped and this includes investing in manufacturing, building clean energy infrastructure to power new growth and train people in new technologies.
“That’s what I mean by a future made in Australia; a future where we compete and win for the great prize of new prosperity,” he said.
The Prime Minister’s plan generated widespread support from industry including national employer association, the Ai Group.
The association’s CEO, Innes Willox, said Australia is making the transition to clean energy which is good news but where are the thousands of electricians coming from to support this new economy.
"Our skills and training systems are woefully inadequate,” Willox said.
“Creating more places in a dysfunctional TAFE system is a nice announcement but a million miles from developing the workforce we need.
“There is a plan to fix this but much more progress is needed.”
Clean Energy Council CEO, Kane Thornton, said the plan is backed by a substantial policy agenda, putting renewable energy at the centre of the nation’s economic future.
“The highlighted areas of hydrogen, green metals and advanced clean energy manufacturing and assembly are genuine opportunities for Australia to expand, grow and diversify our economy centred around clean energy and create further demand for a large and skilled clean energy workforce,” he said.
“We look forward to working closely with the Commonwealth on the proposed legislation to set Australia up to unlock its natural advantages in clean energy.”
Not surprisingly, the Australian Manufacturing Workers’ Union (AMWU) applauded the plan.
National secretary Steve Murphy said the proposed legislation supports the union’s Aussie Made campaign.
“This is the biggest policy shift we’ve seen in our lifetime,” he said.
“Australia can be a renewable energy superpower by building capacity in our domestic manufacturing sector; we are hopeful Australia can move beyond its ‘dig-and-ship’ reputation and capture the full value chain in renewable energy manufacturing.”