Karen Andrews (McPherson, Liberal Party, Minister for Industry) Share this | Hansard source

I announced on Friday, in the member for Groom's electorate, the opening of the second round of the Manufacturing Modernisation Fund. That is about $52.8 million, and we are requiring employers, businesses, to be able to put in at a ratio of about three to one, so we are supporting those businesses that are prepared to invest in themselves. That money is already starting to go out. That is part of the $1.5 billion. There are additional streams for which we are going through the road-mapping process so that we can ensure that the money is going to go to the right area so that it builds competitiveness, it builds resilience and it builds scale. The fund runs over a period of four years. The largest part, the collaboration stream, is where we're looking to bring businesses together so that we can actually build the scale that is needed. Understandably I have no intention of squandering taxpayer money and trying to rush dollars out the door. So we have set in place a proper process to make sure that industry are engaged right at the beginning and that we are working with them to develop what the priorities are within the six manufacturing areas. That money is going to roll out over a number of years. The first round of funding, for two streams—that that deals with export and that that deals with commercialising good ideas—will open in April. (Time expired)

Honourable members interjecting—

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