The PM’s announcement is ultimately about establishing a narrative that ropes together the twin imperatives of economic and national security.
Already a subscriber?It’s all a bit odd when Communist China is left to defend the free market while the United States and Australia, among others, are preaching the virtues of what was once known as protectionism.
Albanese’s pitch will largely be about politics given the new Act will have under its remit numerous already-announced policies and programs designed to bolster domestic manufacturing capability.“We don’t want to be overly dependent, and they want to dominate the market. We’re not going to let that happen,” she told the“People like me grew up with the view: If people send you cheap goods, you should send a thank-you note. That’s what standard economics basically says.
It’s no longer just about the free market allowing us to buy cheap stuff, but also about guaranteeing supply chains to safeguard national security and sovereignty.But his message will be the same as he unveils plans for the Future Made in Australia Act, which is his version of Joe Biden’s clean energy subsidy monolith, the Inflation Reduction Act.
Albanese’s pitch will largely be about politics given the new Act will have under its remit numerous already-announced policies and programs designed to bolster domestic manufacturing capability.These include the skills initiatives, the $15 billion National Reconstruction Fund, the critical minerals strategy and the recently announced $1 billion Solar Sunshot program which will try and establish solar panel production Australia.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘I want a future made in Australia’: Albo pours $1bn investment into solarPrime Minister Anthony Albanese has unveiled the government’s Solar Sunshot program, hailing it as “one of the most significant” announcements of his term.
Read more »
Tayla Vlaeminck returns as Australia thrash Bangladesh in opening T20Tayla Vlaeminck made a successful return from injury as Australia thrashed Bangladesh in the opening T20
Read more »
Australia weather: BoM forecasts heavy rain and storms across south-east AustraliaStorms to sweep through Tasmania and Victoria after Melbourne experiences driest March on record, while Sydney to be drenched on Friday
Read more »
England stars’ heartwarming act goes viralEngland star Jude Bellingham shared a touching moment with a youngster ahead of the Three Lions’ friendly against Belgium.
Read more »
Shoppers amazed by what mum’s ‘adorable’ Easter shirts are made from: ‘So clever’7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Labor has made significant progress, despite latest pollWill Labor really lose any sleep over the Resolve Political Monitor’s latest results?
Read more »