Dan Repacholi (Hunter, Australian Labor Party) Share this | Hansard source

I rise today to contribute to the National Reconstruction Fund Corporation Bill 2022. How good is it to have a government that cares about Australia, about Australians and our future? Australia is the best country in the world, but the pandemic was a wake-up call. It showed us and the world that we aren't perfect. It showed that our supply chains are vulnerable. But it also showed that, when push came to shove, we pulled through. We need to make sure that we are more self-sufficient, more consistently. Along with the Buy Australian Plan and Made in Australia, the Reconstruction Fund is a part of this government's plan for Australia to be a strong and self-sufficient nation. This fund will help our country to have a renewed basis to sell to the world.

This fund is about bringing Australia back to its glory days. I remember the days when Australia made things, and made things that were of high quality. Unfortunately, I also remember some of the regrettable haircuts from that time. While haircut styles may have improved, our manufacturing sector has gone the opposite way. This $15 billion fund will bring back Australian industry, and it will mean that we are again a country that makes things. Industry in Australia will diversify, so we make more of the things that Australians need. This will give Australians well-paid, secure jobs, our economy will grow and it will leave our country as a whole better off in the long run. We in the Labor Party are serious about creating about a better future for Australia and a better future for Australians. We will have the fund up and running by the middle of this year, and it will be one of Australia's biggest government investments in manufacturing in living memory. This will be a legacy that future generations will look back on and be grateful for.

Manufacturing is my background. I know how it works. I know the capabilities we have here as a nation. Unfortunately, we aren't always meeting our potential in the area of manufacturing, but this is about to change. The National Reconstruction Fund will drive economic development in our regions, like my electorate of the Hunter, but also in outer suburbs all over Australia. The fund will boost our sovereign capability and will also diversify the nation's economy and help create secure jobs.

My electorate of Hunter is filled with skilled tradespeople. Working with our hands is what we do. This fund will ensure that workforces like those in the Hunter will be able to be used to their full potential. This is good for everyone in the Hunter, and I can't wait to see how much our area will develop and benefit from this fund.

Our government wants Australians to think globally and make locally. I know that's possible, because we have great businesses and the best manufacturing minds in the world. I know that Australian people are more than capable of fulfilling our potential. Australian businesses and the Australian people just need to have a government that backs them, and they want us to do that with this fund.

We are going to do this the right way, in a way which won't require any colour coded spreadsheets like those used by the previous government. This is because in order to make the most of Australian skills, the way they vote should not be a consideration. This fund will be similar to the Clean Energy Finance Corporation, which, I might add, was also set up by Labor. Sometimes, to achieve the best results for our country, politics really needs to be left out of it. The investment decisions of this fund will be free from political interference. I can assure all Australians, and especially those in my electorate, that there will be no sports rorts and no car park rorts under this government. You deserve better, and we are providing that better. The NRF will have an independent board, which will assess projects at arm's length from government to provide equity loans and guarantees. This will help give Australians secure, well-paid jobs. That means this fund will be guided by industry and finance experts, who will help make decisions based on job creation and growing businesses and delivering on returns to the fund over longer terms to allow for reinvestment—all things that are important to Australians.

The focus of the National Reconstruction Fund will be wide ranging. This government will start consultation on several priority investment areas. That means we're harnessing the skills of a range of Australians with backgrounds in vastly different areas. We are a government that values its resources sector. This is one of the country's greatest strengths and provides some of the biggest opportunities. The Hunter is lucky to be the hub of resources in New South Wales, and I would like to thank Australia as a whole. I'm looking forward to seeing investment flow into our area once this fund is up and running.

We also want to look at our agriculture, forestry and fisheries sectors and determine how we can help them grow. Agriculture is vital to our nation. It provides the food we need to survive. We are blessed in this country to have a strong agriculture sector and one that is eager to grow. This is another exciting opportunity for the Hunter. Agriculture is in the area and already so strong, yet it has the ability to grow significantly. Forestry is also an important sector and one that has a significant role to play in solving issues we're currently facing in this country. The sector has a lot to offer, from helping us increase supply of affordable housing to playing its part in reducing the CO2 in our atmosphere. Lowering emissions will need to be a major focus of government in Australia in the coming decades. This fund provides an engine that will encourage investment and assist in the renewables sector and development of low-emissions technologies. This is a huge opportunity for Australia to lead the world in emissions reduction and renewable energy technology, and this fund is giving us a head start on the rest of the world. Another area for the future is quantum robotics and AI. These are areas that this fund will also prioritise.

This really goes to show just how forward thinking this government is. This fund is wideranging and goes from looking at the resources and agriculture sector to the medical and science areas. The modern world of medicine is amazing, and Australia has some of the best medical minds in the world. With the additional support provided to the sector by the National Reconstruction Fund, I am sure we'll see some huge medical advancements right here in our own country.

We have a prime minister who is a transport enthusiast and a former transport minister, so how could we leave out the transport industry from this list of priorities? On a serious note, transport is a vital sector for our country and one where we have vast opportunities for growth and investment. As everyone in this place is aware, this is an ever-changing world and it's more important than ever that as a nation we are consistently ensuring that we are protecting our national security. That's why this fund also prioritises defence capabilities. It is vital that keep up with the rest of the world. It is also very important that we have the ability to defend ourselves when needed. So not only will this fund help our country to grow but also it will help to protect our country.

All of this leads to one conclusion: the future is bright, and it's all thanks to our Labor government. The National Reconstruction Fund will bring back manufacturing and industry to our great country and will create a better future for Australians. I can't wait to see what opportunities this will bring for the Hunter.

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