Vast array of projects included in sweeping package aimed at boosting domestic manufacturing and speeding up path to net zero
Future Made in Australia funding outlined in the 2024 federal budget will aim to turn the country into a ‘renewable energy superpower’.Future Made in Australia funding outlined in the 2024 federal budget will aim to turn the country into a ‘renewable energy superpower’.
The treasurer, Jim Chalmers, said in his budget speech on Tuesday night that the global economy was facing its biggest transformation since the Industrial Revolution. “Our $22.7bn Future Made in Australia package will help make us an indispensable part of the global economy.” “If we hang back, the chance for a new generation of jobs and prosperity will pass us by – and we’ll be poorer and more vulnerable as a consequence,” Chalmers said.
The government is promising to follow a national interest test, according to whether the industry falls within the categories of “net zero transformation” or “economic resilience and national security”. Meanwhile, the second category – “economic resilience and security” – will assist industries like the processing and refining of critical minerals and the manufacturing of clean-energy technologies.
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