Tania Lawrence (Hasluck, Australian Labor Party) Share this | Link to this | Hansard source

The Albanese Labor government has come to power at a time of significant challenges: rising inflation and the associated interest rate increases plus long-term structural deficits in the budget. Demands on the budget continue, not least of those demands being the repayment of the $1 trillion of Liberal debt we inherited. These are significant challenges. They are the types of challenges likely to chip your political paint on your way through. But I tell you what, Deputy Speaker, as an Australian, I am very glad that it is us, the Albanese Labor government, who are tasked with navigating these challenges. A team of creative and collaborative ministers and MPs are engaged with the community and with industry, and are committed to innovative solutions for the challenges we face now and for those challenges coming from just over the horizon. The alternative—a repeat of the lost decade we've just been through—frankly fills me with some dread.

The achievements of this government so far across all portfolios are substantial and impressive, and we're just getting started. We've seen innovation in child care, in housing, in aged care and on wages, helping families and people young and old. We have seen a government willing to make the hard decisions to make Australia a serious player again on the world stage in foreign affairs and trade, with climate change commitments a necessary precondition.

The program I'd particularly like to focus on is the National Reconstruction Fund. When a once-in-a-lifetime pandemic completely disrupts the status quo of civilisation, it is imperative that political leaders learn the tough lessons thrust upon them. In particular, there were the supply chain disruptions combined with the dearth of domestic manufacturing capability. It is fitting that the minister with carriage of this is also the member for Chifley, for Prime Minister Chifley, too, was a nation builder. As the minister outlined in his second reading speech, the National Reconstruction Fund will be one of the largest investments in Australia's history. As the Prime Minister said earlier today, 'investment' is the key word.

While individual investments through the fund will be at arm's length from government, which is not a terribly difficult concept to grasp, the legislation will nonetheless direct funding towards value-adding in seven priority areas: the agriculture, forestry and fishery sectors; resources; enabling capabilities across engineering, data science and software development; transport; medical science; renewables and low emissions technologies; and defence capability. The fund dovetails well with the government's net zero ambitions and with our aim to become a renewable energy superpower.

The National Reconstruction Fund has been met with general acclaim. For example, the Smart Energy Council said:

The Smart Energy Council supports the Australian Government's establishment of the $15 billion National Reconstruction Fund (NRF) to support, diversify and transform Australia's industry and economy to help create secure, well-paid jobs, secure future prosperity, and drive sustainable economic growth.

The Australian Industry Group has said:

We welcome the Government's commitment to the transformation and diversification of Australian industry through the NRF … The Government's commitment of $15 billion to the NRF is a sizeable down-payment. Recognising the scale of the challenge and opportunity, it elevates industrial transformation to the top of the economic policy agenda.

The Business Council of Australia stated:

We support the establishment of the National Reconstruction Fund. The establishment of the $15 billion fund will be an important step towards diversifying and transforming Australia's industries and economy.

Many businesses within Hasluck and across Western Australia and, of course, wider Australia are interested in applying to access funds to innovate in their areas of expertise. I had very positive feedback from many of the attendees at my green energy round table last year—

Rick Wilson (O'Connor, Liberal Party, Shadow Assistant Minister for Trade) Share this | Link to this | Hansard source

It's free money. Who would have thought that those chambers would put their hands out?

Tania Lawrence (Hasluck, Australian Labor Party) Share this | Link to this | Hansard source

Good gracious, really! The attendees at the green energy round table that I hosted last year and the industry players that are putting significant funds on the table need the confidence that the government actually has clarity around the targets and goals that have to be backed in to de-risk some of these ventures, which—it might be a little hard for you to comprehend—are new ventures. We can either be on the back step or be on the front step, get on the global stage and be the world economic global leader that we can be.

Thank God we don't have another decade of your lot holding us back; it was enough and it's over. This $15 billion is a down payment. Suddenly, those on the opposite side are concerned about government supporting industry. They didn't have any concern with providing support for oil, gas and coal all these years. They had no problems supporting those sectors, but they're a little bit anxious about providing support to renewable energies that will create the jobs of the future. It's absolutely extraordinary! Do you have a problem with the Inflation Reduction Act as well? It's extraordinary that you'd want to leave us behind. Stay back in your dinosaur age. God forbid we should ever have you guys elected in this parliament again. It's disgraceful. But I'm happy to say: you are absolutely in the minority, as evidenced by the members of this parliament. You are absolutely in the minority. Western Australia sent you a very clear message. I suggest you take heed of it if you want to be relevant to the Australian population ever again.

Back to my constituents, who actually matter: Midland Brick. I had a fabulous visit with them. Their parent company is BGC. They've been a staple in the WA manufacturing sector for over 75 years. They were absolutely thrilled that the government has finally got clear targets and clear guidance as to where the investment dollars need to flow. It's an absolute commitment from them. They are in one of the highest carbon-emitting industries, and they are prepared to set a target.

Michelle Ananda-Rajah (Higgins, Australian Labor Party) Share this | Link to this | Hansard source

The member for O'Connor, you are cautioned.

Tania Lawrence (Hasluck, Australian Labor Party) Share this | Link to this | Hansard source

BGC is an example of a company in a high-emitting sector, with concrete and with bricks. They are not setting a target to reduce to net zero by 2050. Guess when they want to set it by? The year 2040. Put that in your pipe and smoke it. This is a company that operates in a high-emissions area. They are preparing to set it to 2040. They've embraced the necessity of innovation. They are planning to reach their climate goal through a variety of changes across their business. They are looking—brace yourself for it—to potentially even set up in Collie with green energy to manage their kilns. Can you imagine that? Will you support that? Will you actually get in behind that and the jobs that it will create, or are you going to be a naysayer to that prospect as well? Will you reject the future for jobs and reject the opportunity to actually reduce carbon emissions? It is unbelievable that you would turn down industries that are putting their money on the table to move this forward. It's an example of what can be achieved and it's a great example—

Michelle Ananda-Rajah (Higgins, Australian Labor Party) Share this | Link to this | Hansard source

Member for O'Connor, stop interjecting, please.

Tania Lawrence (Hasluck, Australian Labor Party) Share this | Link to this | Hansard source

It's a great example of a company willing to look ahead and to plot a productive and a profitable path into the future. It reminds us just how important it is to get ahead of the curve in this area, whether you're a company or in government. Thankfully, we don't have to worry about that with you—after 10 years of climate change denial and avoiding the necessary investments to address it. My word, how things have changed! Compare that with the actions of this government, in a period of higher inflation, to start to invest in the future of this economy in a way that actually assists people sitting around their kitchen table trying to make ends meet.

In the budget in October, Treasurer Chalmers stated that the significantly higher receipts from higher than expected resource prices will be applied to paying down that Liberal debt. It's a prudent move. It's a great idea. From time to time it is necessary for a government to take on debt, and this is done, hopefully, for a good reason. If we cast our minds back to 2008 and the global financial crisis, the Labor government then knew that a significant government stimulus was a useful way to ensure that Australian businesses and the economy generally stayed well. Our actions at the time drew applause from across the world, and it was a useful and targeted fiscal action taken in a timely manner and in a way that had lasting effects.

The present government inherited that trillion dollars of Liberal debt—an amount triple that which followed the GFC. Some of that was necessary, thanks to the pandemic, but, in the main, we have to ask ourselves just exactly how that money was disbursed. We're all now having to wear and bear the ongoing consequences as the cost of living changes. So, when faced with the National Reconstruction Fund being proposed by the government, we have to look at exactly who voted yes and who voted no. It's an investment in the future of this country. At a time when we faced the imperative of transforming our economy from the ground up in the face of climate change, where were those opposite? They were nowhere to be seen. Where was the Albanese Labor government? We were here, we were present, we said yes, and Australia, thankfully, will benefit from our leadership.

Michelle Ananda-Rajah (Higgins, Australian Labor Party) Share this | Link to this | Hansard source

There being no further grievances, the debate is adjourned and the resumption of the debate will be made an order of the day for the next sitting.

Federation Chamber adjourned at 19: 29