Opinion: Make or brake: The critical test for Albanese’s manufacturing vision | CroweDM
Australians are about to discover whether Anthony Albanese can deliver on one of the most persuasive messages in his pitch to become prime minister: the idea that he can lead a country that makes things again.
Anthony Albanese announced a $100 million partnership with the Queensland government for a battery manufacturing precinct during the federal election.Worse, companies were put through endless hoops while Canberra tried to decide what to support. David Sparling, the chief executive of Melbourne company IDT Australia, went through this hell.
Thrown on the defensive, Morrison and his ministers promised to make mRNA in Australia. They asked local companies to go through months of work to advance their proposals. In the end, however, the only winner was Moderna. The global giant will receive an unknown amount of federal. Everyone else was shut out. CSL, the biggest Australian contender in the vaccine business, will pursue its mRNA plans in Massachusetts and South Carolina.
Industry Minister Ed Husic will take a submission to cabinet with Finance Minister Katy Gallagher in the next few weeks to set up the $15 billion National Reconstruction Fund, one of Labor’s biggest election promises. This is meant to include $1.5 billion for medical manufacturing but not through grants: the fund will join commercial investors by supporting companies with loans and guarantees.
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