Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

I present a supplementary explanatory memorandum to this bill and the Future Made in Australia (Omnibus Amendments No. 1) Bill 2024. I seek leave to move government amendments (1) to (5), as circulated, together.

Leave granted.

I move:

(1) Clause 3, page 4 (after line 28), after subparagraph (c)(iii), insert:

(iiia) supporting First Nations communities and traditional owners to participate in, and share in the benefits of, the transition to net zero; and

(2) Clause 8, page 10 (after line 22), at the end of subclause (6), add:

Note: The Commonwealth entities the Secretary may consult with for the purposes of paragraph (a) include (without limitation) the following:

(a) the Australian Competition and Consumer Commission;

(b) the Climate Change Authority;

(c) the Commonwealth Scientific and Industrial Research Organisation;

(d) Infrastructure Australia;

(e) the Net Zero Economy Agency;

(f) the Productivity Commission.

(3) Clause 10, page 13 (after line 8), after subparagraph (3)(a)(iii), insert:

(iiia) supporting First Nations communities and traditional owners to participate in, and share in the benefits of, the transition to net zero; and

(4) Page 14 (after line 3), after clause 11, insert:

11A Reporting on provision of Future Made in Australia support

Reporting by Commonwealth entities

(1) The accountable authority of a Commonwealth entity must ensure that an annual report prepared under section 46 of the Public Governance, Performance and Accountability Act 2013 for a reporting period for the entity complies with subsection (3) of this section if the entity provides Future Made in Australia support (including on behalf of the Commonwealth) during the period.

Reporting by Commonwealth companies

(2) The directors of a Commonwealth company must ensure that the documents given to the responsible Minister under section 97 of the Public Governance, Performance and Accountability Act 2013 for a reporting period for the company include a report that complies with subsection (3) of this section if the company provides Future Made in Australia support during the period.

Content of report

(3) A report described in subsection (1) or (2) that relates to a Commonwealth entity or Commonwealth company must include:

(a) for each person to whom the entity or company provides or commits Future Made in Australia support during the reporting period:

(i) the name of the person; and

(ii) the amount of support provided or committed in the reporting period; and

(b) the amount of all Future Made in Australia support provided or committed by the entity or company in the reporting period.

Definitions

(4) The following expressions have the same meaning when used in this section as they have in the Public Governance, Performance and Accountability Act 2013:

(a) accountable authority;

(b) director;

(c) reporting period.

Note: See also the definitions of Commonwealth entity and Commonwealth company in section 5 of this Act.

Application

(5) Subsections (1) and (2) apply in relation to a reporting period that ends on or after the commencement of this section.

(5) Clause 12, page 14 (line 19), omit "Section 11 does", substitute "Sections 11 and 11A do".

I want to very genuinely thank the members of the crossbench for the way that they have engaged with us on the Future Made in Australia Bill 2024. That engagement has taken a number of forms, but I know that it is well motivated and I know that we share with the crossbench the objective to make sure that the Future Made in Australia Bill's supporter regime is transparent and rigorous and delivers maximum benefit for our community.

I'm also grateful that a number of crossbench colleagues have noted that what we've tried to do with these five government amendments is pick up as many of the good suggestions put forward by members of the crossbench as we can. Where that has not been possible—for example, in relation to the member for Calare's contribution a moment ago—it's because we think that the objectives which the amendments are written to serve are already possible under the Future Made in Australia regime that we are seeking to legislate.

The five amendments from the government that are before the House are largely about three things. Firstly, they make projects supported by the Future Made in Australia even more transparent. The companies delivering the support will have to publish the value of that and list their beneficiaries each year. Secondly, the amendments will make the sector assessments more rigorous. They will put in legislation the recommendation for Treasury to consult expert bodies when making these assessments, and this will help Treasury consider what impact or benefit individual industries will have on our net zero transformation. Thirdly, they clarify the importance of First Nations Australians participating in and sharing the benefits of our transition to net zero, with an extra community benefit principle ensuring the benefits of projects on those communities are always properly considered. We're also proposing a minor amendment to the omnibus bill to ensure that the Australian Renewable Energy Agency is considered a public authority of the Commonwealth.

These bills are all about helping to make Australia a renewable energy superpower, making sure that it's Australians who benefit from our transition to net zero. Making our future here in Australia is about making the most of our nation's potential and making sure everyone shares in the benefits. This legislation will help us maximise the economic and industrial benefits of international move to net zero, and secure Australia's place at the forefront of the changing global economic and strategic landscape.

I thank the crossbench for working closely and collaboratively with us on the amendments and on these bills. Their thoughtful and creative suggestions will strengthen the Future Made in Australia legislation, and I move these amendments in lieu of their constructive proposals. These two bills together are a major step in implementing the Albanese Labor government's Future Made in Australia agenda to deliver our country's next generation of prosperity, and that's why I commend the bills to the House.

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