Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I thank the member for Lalor for her question. I note that 95,000 of her constituents got a tax cut this week as well as, of course, many tens of thousands who got a wage increase. Every single household got $300 in energy bill relief, and I visited a chemist in the electorate of Lalor just a couple of weeks ago with the member. There, of course, the pharmacists as well as constituents were talking about the real benefit that our cheaper medicines policy has had.

So we're dealing with the immediate, but we're also setting Australia up for the future. That's what the Future Made in Australia Act is all about—the next step in building a more prosperous future for every Australian, making more things here in Australia, making our economy more resilient, creating secure, well-paid jobs for Australians and making sure that workers and communities benefit from those jobs. And that is what our Future Made in Australia Act that was introduced today is all about—engaging and investing, not retreating and protecting, attracting private investment, not replacing it, and aligning our national security and our economic security interests.

The national interest framework that is at the heart of this legislation also speaks about identifying sectors where we have a comparative advantage in the world economy. In areas like green hydrogen, we have a comparative advantage going forward. And indeed as well, as the world moves to a net zero economy, there is nowhere you'd rather be than Australia. But it'll also examine the national interest on the basis of economic resilience but also our national security. Public investment will be an important part of the plan, but the most important role for public investment will be to unlock private sector investment, because we on this side of the House haven't abandoned the private sector.

Honourable members: That's right.

We on this side of the House understand the importance of backing business.

Now, our public investment will show us a path to a Future Made in Australia, but private capital is essential and that is why our Future Made in Australia agenda is an investment strategy and it is a growth strategy, to provide investors with the clarity and certainty that they need going forward so they can invest in Australia's future and take the Australian population with them to deliver good, secure, well-paid jobs.