Albanese outlines plan for a “manufacturing boom”

Acknowledging that Australia is in the midst of a technological transformation, federal Labor leader, Anthony Albanese, outlined in the first Vision Statement how the Labor party seeks to ensure Australia will have a manufacturing boom.

Delivered in Perth, at the Committee for Economic Development of Australia (CEDA), Albanese set the tone for the way that the federal Labor party will approach industrial and national policy.

“With the right planning and vision, Australia can not only continue to be an energy exporting superpower, we can also enjoy a new manufacturing boom,” said Albanese.

Citing the development of LNG for export, and the potential of hydrogen to play a similar role in the future, Albanese said that through investing in the development of a hydrogen export industry and a 50 per cent renewable energy industry locally, Australia would create 87,000 jobs.

“Working towards a low-carbon future provides the opportunity to revitalise the Australian manufacturing sector,” he said.

“In the century that’s before us, the nations that will transform into manufacturing powerhouses are those that can harness the cheapest renewable energy resources.”

Using solar, wind, and wave energy could lead to metal manufacturing and other energy intensive manufacturing industries having a competitive advantage in Australia, said the Labor leader.

Albanese also highlighted how Australia’s mineral resources could spur a local manufacturing sector. Noting that Australia is the second largest producer of rare earth elements, as well as holding the greatest reserves of iron and titanium, Albanese highlighted how using these resources locally and using them to create added value products, as is occurring in Western Australia with lithium.

“Right here in WA, we are seeing the emergence of an industry adding upstream value to a resource – creating new processing and manufacturing industries and, crucially, creating regional and metropolitan jobs,” he said.

“Labor’s vision for Australia will always be one of a country that continues to make things.”

For this to occur, Albanese argued that the federal government could bring forward infrastructure investment to drive business investment. In addition, Albanese promoted the idea of the establishment of a National Centre of AI Excellence to manage the technological transition underway, as well as a national project to repair the VET sector, Jobs and Skills Australia.