In a recent speech, prime minister Anthony Albanese has announced the government’s plans to introduce the Future Made in Australia Act, set to bolster Australia’s manufacturing industry capabilities and economic prosperity.
The speech, made at the Queensland Media Club, highlighted several key initiatives targeting increased economic reform and fostering growth for Australia.
“[We] need Queenslanders – everywhere – to be part of a new advanced manufacturing workforce,” Albanese said.
Albanese announced the Future Made in Australia Act, as a landmark legislative proposal aimed at comprehensively coordinating and boosting investment, job creation, and innovation to realise the vision of a future made in Australia.
“Researching, designing, building and exporting value-added products to the world,” said Albanese.
He stated this act will prioritise initiatives that support Australian industries, promote sovereign capability, and drive economic growth.
“the preparation for what comes next, has to start now,
This means looking at how government procurement can support small business and local manufacturing, as well as sustainability and the circular economy,” said Albanese.
The prime minister acknowledged Queensland’s significance in driving Australia’s economic advancement, stressing that prosperity must encompass every community, suburb, and region across the state.
“I wanted to give this speech here in Queensland because you have such a pivotal role to play in realising that vision and building that future,” said Albanese.
He noted that Queensland’s communities, from Brisbane to regional hubs like Gladstone and Cairns, are essential players in driving Australia’s prosperity forward.
Central to the prime minister’s vision is the transition to renewable energy, where he state Queensland is poised to lead as a renewable energy superpower.
By highlighting initiatives such as large-scale solar and wind farms and pumped hydro projects, he emphasised Queensland’s role in not only powering Australia’s economy but also contributing to global decarbonisation efforts.
“Queensland will be at the forefront in helping the nations in our region grow, industrialise and decarbonise – and help the world achieve its net zero goals,” said Albanese.
The speech also addressed the government’s commitment to ensuring job security for all Australians, with the announcement of the Queensland Job Security Guarantee.
“And the most important national project of all – making sure workers and communities aren’t left behind, starting with the Queensland Job Security Guarantee,” said Albanese .
The speech addressed, this is an initiative aimed to protect workers and communities from being left behind amidst economic transitions.
Acknowledging the current global economic shifts, the Prime Minister discussed the need for proactive government intervention to secure Australia’s economic future.
Albanese said, “Government needs to have this same capacity to respond and adapt, to anticipate change – and shape it – when it comes to building for the future.”
He highlighted the importance of strategic planning, collaboration with the private sector, and adaptation to emerging technologies and global trends.
“Government needs to be more strategic, more sophisticated and a more constructive contributor,” said Albanese,
Not just playing to our traditional strengths with our traditional partners, but offering new products and services to new markets.”
Pointing out initiatives in the US, EU, Japan, South Korea, and Canada, Albanese said,” Nations are drawing an explicit link between economic security and national security,”
He added, “All these countries are investing in their industrial base, their manufacturing capability and their economic sovereignty.
The prime minister reiterated the government’s commitment to easing the burden on taxpayers and boosting economic recovery through tax cuts and targeted stimulus measures.
He stressed the importance of investing in clean energy, skills development, infrastructure, and innovation to build a stronger, fairer, and more prosperous future.
“In this time of transformative opportunity, our Government will not be an observer or a spectator – we will be a participant, a partner, an investor and enabler,” said Albanese.
Albanese is urging all Australians to embrace the opportunities and challenges of the future, stating by working together and harnessing strengths, Australia can forge a future made in Australia that benefits all its citizens.
“Our Government is investing in manufacturing to make more things here. We’re building the infrastructure and clean energy to power new growth. We’re training people in new technologies,” said Albanese.
