Two critics of the government’s Future Made In Australia Act have softened their views after Treasurer Jim Chalmers outlined five criteria for support.
Already a subscriber?Two critics of the government’s Future Made In Australia Act have softened their views after Treasurer Jim Chalmers outlined five criteria that any venture would have to meet to receive taxpayer-funded assistance.
He outlined five criteria that projects must meet in return for support. The industry must be one in which Australia can compete and be more productive; it contributes to an orderly path to net-zero emissions; it can build the capabilities of people, especially in the regions; it will improve Australia’s national security and economic resilience; and it recognises the key role of the private sector and delivers genuine value for money for the government.
Mr Sims said the requirement that projects have a comparative advantage augured well given Australia’s abundance of cheap renewable energy and biomass.Speaking at the National Press Club, economist Aruna Sathanapally said decisions as to which ventures received funding should be made at arm’s length from government.
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