Tracey Roberts (Pearce, Australian Labor Party) Share this | Link to this | Hansard source

The Future Made in Australia Bill 2024 is a cornerstone of the Albanese Labor government's Future Made in Australia plan, designed to drive our country towards a new era of prosperity and resilience. This bill represents a major step forward in realising our vision for a prosperous future for all Australians. It brings us closer to achieving our goals and secures Australia's position in a shifting global economic and strategic landscape, particularly in light of this global transition to net zero. At a conference held in the United States in 2023, the economist and Nobel Laureate Joseph Stiglitz told the assembly:

Every country has an industrial policy. The question is whether it's explicit, whether it's implicit, whether it's coherent, or whether it's incoherent.

On 11 April 2024, the Prime Minister announced that the Albanese Labor government would introduce a Future Made in Australia Act, signalling the explicit adoption of a new industrial policy for Australia that aims to capitalise on Australia's advantages and resources necessary for the clean energy transition. The new policy will see government taking a more active role alongside the private sector. Prior to the budget, the Treasurer stated that a future made in Australia would be just as much about Australia taking a place within emerging and preferential trading blocs as it would be about stimulating growth and promoting structural change.

The world is undergoing an unprecedented transformation as we shift towards cleaner and more affordable energy sources. This transformation has been likened to the Industrial Revolution in terms of its impact and scale. The Prime Minister has rightly pointed out that we are at the centre of the biggest economic transformation in a century. In the midst of this tumultuous period, our path to prosperity is not just apparent; it is clear and it is achievable.

Australia is uniquely positioned with a remarkable set of advantages. We have geological, meteorological, geographical and geopolitical strengths that give us an unprecedented opportunity to benefit from the global net-zero economy. To ignore this opportunity would be a grave disadvantage to our country and to our future generations. This bill is about leveraging our strengths and ensuring that Australia's future growth is strategically aligned with our industrial, resources, skills and energy bases. We need to ensure that we harness our attractiveness as an investment destination to seize the jobs and opportunities presented by the clean energy transition.

The global landscape is evolving rapidly, and Australia must evolve with it. If we cling to outdated models and resist change, we risk falling behind and becoming poorer and more vulnerable. Our Future Made in Australia agenda is designed to meet these challenges head on. Our goal is not to manufacture the past but to power the future. We are committed to a strategy of engagement and investment, not retreat and protection. We will focus on attracting private investment, rather than replacing it, and we will seek to prosper from change, rather than merely protect ourselves from it.

The Future Made in Australia Bill is not just a piece of legislation; it's a bold blueprint for a thriving, resilient and sustainable future. At its heart are the three dynamic pillars that will shape Australia's economic destiny and steer us towards a greener, more prosperous horizon. The National Interest Framework is absolutely pivotal in pinpointing where Australia can truly excel in the net-zero economy and where we need to bolster our economic and security resilience. It is a strategic compass that ensures every investment aligns with our national interests.

The sector assessment process is where the rubber meets the road. We are going to assess and understand what is holding back private investment in crucial sectors. By uncovering these barriers and tackling them head on, we are clearing a path for private investors to enter the net-zero transition. Treasury will lead this process with an uncompromising commitment to rigour, independence and transparency. These assessments will be laid out in parliament, making sure investors have a clear and accountable picture.

The community benefit principles are nothing short of revolutionary. Our investments must do more than just fuel economic growth; they need to uplift our communities. There are five key principles. The first is to ensure that every investment will create high-quality jobs. We are talking about safe, well-paying jobs with excellent conditions—jobs that make a real difference in people's lives. It will build a skilled, inclusive workforce, will invest in training and open doors for everyone, ensuring broad participation and skill development. It will engage positively with local communities. This includes First Nations communities and those directly impacted by the transition. We're committed to meaningful education, engagement and positive impact. It will strengthen domestic industries by boosting local supply chains and industrial capabilities. We are building a robust, self-sufficient economy. It will ensure transparency and compliance. Our investments will be transparent and fully compliant with Australia's tax system, fostering trust and accountability. These principles will guide each program and will be fine tuned through extensive consultations to make sure they deliver genuine benefits.

We're also rolling out the Future Made in Australia plans. These tailored plans will maximise the broader benefits of our investments, addressing local needs and seizing opportunities with absolute precision. Introducing the Future Made in Australia Innovation Fund is another game changer. This fund will be the powerhouse behind emerging technologies in green metals, clean energy, manufacturing and lower carbon fuels. It's designed to spark innovation and drive technological breakthroughs that will propel us into a sustainable future.

Public investment is crucial, but it's just one piece of the puzzle. The real transformation will come from rallying private sector investment. We are looking at needing an additional $225 billion by 2050 to transition our energy system and seize net zero opportunities in heavy industries. The National Interest Framework and sector assessments are essential to unlocking this private investment. They will help us pinpoint barriers and opportunities, giving investors the clarity and confidence that they need. With Treasury's expert analysis and evidence based assessments guiding the way, we will ensure that private investors are not just informed but inspired to act.

We must remember that throwing money at the economy isn't enough. We need to be strategic about its deployment. The Community Benefit Principles will ensure our investments are not just economically smart but also socially responsible and inclusive. They will guide us in creating quality jobs, developing skills, engaging communities and strengthening our industrial base.

As these projects unfold our Future Made in Australia plans will be tailored to meet specific needs and we will consult widely to ensure these principles deliver real, tangible benefits. The Future Made in Australia Bill isn't just about change. It's about driving a profound transformation that will shape our country's future for the better. This is our chance to lead with vision, to invest wisely and to ensure our prosperity and security for generations to come.

Whilst attending an event in my electorate of Pearce last week, the Prime Minister spoke about the importance and benefits of a future made in Australia. As the resource powerhouse of Australia, Western Australia has a central and vital role to play. For example, Western Australian gas and iron ore has built our nation's wealth. There are WA metals, minerals and resources, WA universities, research and technology and WA businesses and workers. The global respect that our skills and knowledge command is absolutely admirable. Time and time again, Western Australia has embraced new technology and the productivity gains that come with it. This is a compelling combination of the strength that Western Australia brings to the table. It is also powerful proof that Australia can absolutely compete and succeed in a changing global economy. The workers of Western Australia have learned new skills and achieved new standards in safety and sustainability.

As it has grown and adapted, the resource industry has invested in regional communities that support it. They have created local jobs, upgraded local infrastructure and worked with traditional owners to create economic opportunity in remote communities. All of that should give us confidence and optimism for what's ahead because whilst it's true that the resource industry has been a great constant in Western Australia's economy and our national prosperity, it has achieved that by constantly evolving and adapting and by anticipating and shaping the next opportunity. That next opportunity is definitely now upon us. Western Australians know that a future is secured where living standards, wages and productivity rise together. Building an economy that is more competitive and more resilient means working together to shape the future, not waiting for the future to shape us.

Our $22.7 billion budget investment demonstrates our commitment to this agenda. Public investment will pave the way, and private capital will drive the transformation. The Future Made in Australia agenda is an investment and growth strategy designed to provide investors with the clarity, certainty and cooperation that they need from the government.

The time to act is now. The world is changing rapidly, and the opportunities before us will not last forever. We have already spent a decade of denial and delay, and we cannot afford to waste another decade. The only thing Australia doesn't have is time to waste. That is why I commend the Future Made in Australia Bill to the parliament.

Sam Birrell (Nicholls, National Party) Share this | Link to this | Hansard source

I rise to speak on the Future Made in Australia Bill 2024. I start by commending the government on the name of the bill; I think it's very clever. Once you dive into it, I think there are all sorts of issues that would be dangerous for Australia's manufacturing future. I will get to the legislation soon, but first it invites a discussion and a debate about how we encourage and invest in manufacturing in this country, what's worked in the past and what will work in the future. I think allowing the market to understand what consumers want and letting them manufacture is one thing, and what has been described by some media commentators as crony capitalism is another.

But first I want to invite all of those listening on a virtual tour of the industrial precinct of my home town of Shepparton. All members in this place are invited to come to Shepparton and getting the car for the real tour with me. We're going to drive down Old Dookie Road—and I do this to explain how manufacturing is thriving and what's led to it thriving. I think that can give us some pointers to the future. We drive down Old Dookie Road and turn to our right, and we see Noumi, a leading Australian producer of dairy and plant based milks, nutritional products and ingredients. Noumi sources the milk from the farms around the Goulburn Valley and creates, particularly in my area, UHT products that get exported and are also for the domestic market.

You're looking at Noumi on your right—fantastic manufacturing facility. You look on your left and you see J Furphy & Sons, an iconic Shepparton business. They great thing about J Furphy & Sons is that they built the stainless steel tanks that set Noumi up to do the milk production and the food production that they do. So we've got a great little hub. We've got one business with innovation and know-how built up over 100 years that is supplying another business that is just getting going with some relatively new technologies.

As we keep driving around, we will see Pental, recently acquired by the DuluxGroup. Pental has proudly supported Aussie homes for over 100 years, and they've got brands such as White King, Country Life, Velvet, Lux and Jiffy. Where would our homes be without those? They also have a contract manufacturing division, which manufactures to company specifications for private label or store brands. They were able to pivot during COVID to develop and produce a White King disinfectant spray and a Country Life antibacterial hand cleaner. There were in particularly high demand in China, and we had the capacity to do it.

Then we turn the corner and look around, and there's our favourite iconic company: SPC, the Shepparton Preserving Company. For over 100 years, they've been taking fruit from orchards and putting it into cans—more and more now, snack packs—as well as with tomatoes and all sorts of healthy processed foods that Australians and people around the world enjoy. I reiterate my invitation to everyone in this place to come and do the peach challenge: to try the imported Chinese products against the SPC in my office for all members.

We drive past a company called Rubicon, which designed, built and installed water efficiency and management solutions in 20 countries around the world and makes irrigation efficiency equipment in Shepparton. We go to Campbell Soup, making a pantry staple. Everyone knows Campbell Soup. Then we turn around and see MC Pipes. Established in 1948, Midland Concrete, or MC, Pipes began life as a small concrete precast manufacturer of pipes, but they've grown into a huge business, and their pipes are necessary for the new housing developments we see around the country.

The reason that I have taken you on that bit of a tour is to have a think about how those businesses were set up and succeeded and what threatens them. Then we can discuss how we can have a real future manufactured in Australia. They need reliable and cheap energy, which they have had over many years. That's now threatened. Energy prices are going through the roof, particularly under this government. I am worried about where they are going to go in the future. I am worried about gas. I am worried about electricity. Most of them have done as much transformation to solar as they can, but they still need that base-load power. That threatens their very viability.

Industrial relations legislation that this government has put in place is making it very difficult for some of those businesses to manage. The red tape, the bureaucracy and what you have to go through with your workers is making it really difficult. The lack of flexibility is making it really difficult for people to run those businesses. The government investing in infrastructure is what set those businesses up. Instead of the government going in and saying, 'You should set up this kind of business,' or, 'You should set up that kind of business,' what the government did over 100 years ago was set up an irrigation system, saying, 'We'll get water to you and then you can decide what works and you make it work, whether it is growing peaches, apples or pears or having dairy products.' Then, all of a sudden, that creates a product and a commodity, which then creates manufactured and processed food. That's processed in a healthy way, I might add, with apples, pears and dairy. In some cases, there has been limited government support, and that is always leveraged off what a company decided was a good idea anyway. For example, the previous coalition government had modern manufacturing grants. That helped a company set up an abattoir called Greenham in Tongala in my electorate.

The reason I bring that up is that Australia has had a proud and strong manufacturing industry, and the coalition government always supported it. But the coalition will oppose this bill because, the more we hear about it, the more we see it as a plan for pork-barrelling, not for a strong economy. This is a plan for more government, not more business investment. It is a plan for more inflation at a time when Labor is already making it worse.

What our great manufacturing businesses need is affordable and reliable energy, flexible workplaces, less regulation and an incentive based tax system. That's what they need. What we're getting is policies on energy, industrial relations and tax that are making Australia a less attractive place to do business. We can see that because insolvencies are up and productivity is down. Those are facts. Insolvencies are up, productivity is down and businesses are struggling just to keep their doors open. So we see Labor's Future Made in Australia plan—great name—as a bit more about spin than delivery. Economist after economist has criticised this policy. The government can't solve the cost-of-living crisis by throwing hard-earned taxpayers' money around on ideological pet projects. This bill does nothing to alleviate the current pressures on struggling families and small business.

What's in this legislation? These bills expand the role of Export Finance Australia and ARENA. They establish a national interest framework. That retrospectively underpins the government's Future Made in Australia policy. The accompanying omnibus bill expands Export Finance Australia's remit to fund domestic industries and nominate the Minister for Finance as an additional responsible additional minister. The omnibus bill also expands ARENA's functions from pure R&D and demonstration into supporting manufacturing deployment and commercialisation. So this legislation really expands the role of government and ministers, and I think that's a dangerous thing to do.

Take ARENA, for example. It's always been a research and development agency. Labor in opposition opposed even expanding that remit to cover sensible net zero related R&D expenditure into, for example, carbon capture and storage and blue hydrogen. But, now they are in government, they want to extend the remit even further into deployment of manufacturing because it suits the interests of their donors.

This bill gives the minister for climate change the ability to boost its funding at the stroke of a pen, with no parliamentary oversight and no scrutiny. Have a think about what that could mean. The government can roll up to $3.98 billion out the door. Let's just think when that might be. Possibly before an election. I think we call that a slush fund where I'm from.

Labor's own investments just don't stack up. The Productivity Commission says a $1 billion commitment to make more solar panels in Australia under the Albanese government's Future Made in Australia program should be retrospectively subjected to a tougher National Interest Framework test. At a time when productivity is down and struggling, I think we should listen to the Productivity Commission. We should also listen to them on irrigation and water in the Murray-Darling Basin. You might think I would say that, but that's something that enables business. The Labor government's attacks on the Murray-Darling Basin and those irrigation systems deter business, deter manufacturing and deter us making and growing future things in Australia.

To look at some examples, the Solar Sunshot program is already in trouble, with serious doubts we can produce globally competitive solar panels. The biggest booster of green hydrogen, Fortescue, is scaling back their ambitions for green hydrogen despite the promise of tax credits just for existing. Labor's production credits are failing to deliver for the struggling nickel industry, with the promise of future subsidies not holding back the tide of international price pressures and rising domestic costs through energy, tax and workplace laws. Key elements of Labor's Future Made in Australia agenda include the PsiQuantum contract, which bypassed the National Interest Framework and sector assessments. There's some serious questions to answer about decisions to make these investments. These things aren't necessarily bad. We don't know what the best technologies of the future are going to be. I would argue they're not necessarily for governments to completely decide, but to allow the market to find out.

We must get back to economic basics. Australians want and deserve something better. In government, the coalition government would do three things. We want to steer our nation out of our current domestic crises. We don't want to simply talk about the challenges of our time; we want to meet them head-on with action to carve out a more secure future. More importantly, we want to make decisions that set up our nation for success for generations to come. We're looking to build a nation which is a mining, manufacturing and agricultural powerhouse and a leader in technology and innovation. That's what we do really well. When we set things up for private enterprise to succeed by making sure they have the tools to do what they want to do, then we see real success.

I would argue that Australia has been on a pathway to success since the early 1980s. The Hawke-Keating government deregulated the economy. What we see now is the reregulation of the economy, and nowhere in the world has that worked. I recall a senator of this place, Mathias Cormann, talking about why he joined the Liberal Party. He said he joined the Liberal Party because it's the party of free enterprise. We in the Nationals are the party of free enterprise in the regions. He said it was because as he was driving around Europe as an older teenager of 18 or 19, he looked at what the policies had led to in East Germany and he looked at what the policies had led to in West Germany. In one, the government tried to get involved in everything, had its fingers in every pie, worked out who'd do this, who'd do that, who'd have this industry and who'd have that industry. West German governments, based on free market principles, were there to invest, support and provide energy, provide infrastructure, but then let the free market do its thing, finding out what consumers want, and creating products and services that consumers will then pay for.

Even now when you drive around Germany you see the difference in prosperity. Prosperity is what it's all about—prosperity for our futures and prosperity for the generations ahead. We absolutely do need to reduce our emissions but there are better ways to do it than government's trying to pick winners. We're also seeking to help build a nation where the tax contributions from the surging industries help us to build the infrastructure of the future.

In closing, we oppose this bill because it goes against the principles of the free market, the principles of allowing the market to decide what to invest in, the principles of innovation driving change not government deciding what it is. There is a complete lack of transparency about how this money would get allocated and who gets to allocate it. I think government's role is to create the right environment for business around energy, IR and infrastructure and then to just get out of the way. I don't think this bill advances that, and that's why we'll be opposing it.

Louise Miller-Frost (Boothby, Australian Labor Party) Share this | Link to this | Hansard source

The Future Made in Australia Bill 2024 is really exciting. This bill is about the future. It's about a bright future for Australia, for Australians, for Australian businesses, for Australian industry and for the Australian economy. This is about our future prosperity as a nation—a prosperous future for all Australians. It's about our future role in the world, a world that is transitioning to new energy and new opportunities. We can either bury our heads in the sand and pretend it isn't happening or see it for what it is.

The worldwide transition to net zero is a challenge, but it's also an enormous opportunity, particularly for a country like Australia, with our natural advantages: mineral deposits and abundant renewable resources—solar, wind and hydro. This bill is all about realising our genuine advantages and recognising that our future growth prospects lie at the intersection of our industrial, resources, skills and energy bases and our attractiveness as an investment destination so we can grasp the jobs and opportunities of the clean energy transition. It's about attracting private-sector investment to maximise the benefit to this country—well-paid, secure jobs, secure supply chains, and a secure role in the global net-zero economy. It's about addressing some of the challenges facing our island nation in a changing global and strategic landscape, such as sovereign capability and supply chain security.

In South Australia, Premier Peter Malinauskas and the state Labor government are running a series of state prosperity forums. I recently attended one of these very well attended forums. The inspiring message being presented is how worldwide decarbonising is an opportunity for South Australia and how the South Australian government can position the state to be ready for this. The projects include the Northern Water project, which will deliver desalinised water to Olympic Dam and surrounds to facilitate copper mining without draining the artesian basin; and green hydrogen produced using excess solar and wind generated electricity, which South Australia already has in abundance and which can be used to make green iron and steel. Copper, iron and steel are all vital resources for electrification all around the world, and South Australia plans to capitalise on our natural assets to deliver prosperity to South Australians, in the form of well-paid, secure jobs, and prosperity for the state, in the form of value added product: green iron, steel and copper processed in South Australia. This is a great plan for South Australia. It's a great plan for environmentalists and those who are really concerned about climate change action and decarbonising. It is building industries that will contribute to the state's decarbonising but also to the world's energy transition. And it's great for business and industry because it's taking advantage of market opportunity and using our natural advantages to build big profitable businesses.

The world is changing, and the pace of that change is accelerating as the planet moves to a future powered by cheaper and cleaner energy. As the Prime Minister has said, this change means we are in the middle of the biggest transformation in the global economy since the Industrial Revolution, and we can either ride the wave of change and benefit from it or pretend it isn't happening and get dumped by it instead. It appears those opposite would prefer to ignore opportunity when it comes knocking—ignore economic opportunity. South Australia is certainly prepared to ride the wave of change and make sure we benefit from it, and this bill is a major step in implementing the Albanese Labor government's Future Made in Australia agenda to deliver our country's next generation of prosperity.

The world is changing, and Australia needs to change with it and position ourselves to take advantage of these changes. If we don't, the country will be poorer and more vulnerable. We'll be more dependent on overseas supply chains, with profits flowing offshore to countries that have better prepared themselves. It will make us vulnerable to geopolitical instability, and this is not the future we want for this country.

We have a unique combination of geological, meteorological, geographical and geopolitical comparative advantages, and we know it would be an egregious breach of our responsibilities as a government if we didn't play this winning hand. This bill is all about realising our genuine advantages and recognising that our future growth prospects lie with our industrial, resources, skills and energy bases. This makes us an attractive investment target so we can build industries, create well-paid, secure jobs and harness the opportunities of the clean energy transition.

Our goal here is to power the future. Our strategy is to engage and invest, to attract private investment, to prosper from change. This bill brings us closer to the prosperous future for all Australians that we know is there for the taking. And it helps us secure Australia's place in the shifting global economic and strategic landscape on the back of the global transition to net zero. We want Australia to be a place that makes things, as it did in the past.

Every year, Harvard researchers do an assessment of the economic complexity of 133 major economies around the world. Economic complexity is basically a measure of the value-added contained in a country's exports—how much of our export income comes from products that require knowledge. For instance, digging up iron ore and exporting it requires relatively less knowledge input than also processing it into steel and then into a car, to use a simplistic example. Higher complexity is also a measure of the economic potential of a country. Economic complexity not only correlates with GDP per capita; it also predicts future economic growth. Of the 133 countries measured by the Harvard researchers, Australia rates 93rd. We sit just below Uganda and just above Pakistan—this despite having a GDP per capita that is 68 times larger than Uganda's and 40 times larger than Pakistan's.

In the last decade alone, under those opposite, Australia has fallen 12 places in economic complexity. The Atlas of Economic Complexity notes that Australia's worsening complexity has been driven by a lack of diversification in exports. Our economy is less complex than would be expected, given that our GDP per capita is the 12th highest in the world. Given the lack of complexity in our current export products, doing more of the same is unlikely to change anything. We need instead to look at the world around us, at the current trajectory and future needs, and strategically move into areas that we know will grow. We need to start making things in Australia again. And instead of fighting an uphill battle on products that other countries are already experts in, we need to use our competitive advantages to get ahead of the market in the new decarbonised world economy: green energy, green steel, green aluminium—energy transition products.

I know my electorate of Boothby is ready for this. Already we have the internationally recognised Tonsley Innovation District, home to over 150 high-tech modern manufacturing businesses. The entire district runs completely on solar and wind power generated on site. It's also home to the largest hydrogen electrolyser in the Southern Hemisphere, where excess solar and wind energy is stored as hydrogen that is exported to Whyalla every week. And this government is investing in the Factory of the Future at Tonsley, and the South Australian Labor government is putting in a technical college at the same site, in addition to the existing TAFE campus and the campus of Flinders University. We know the future is bright for these industries, and they will be needing more skilled workers. Exposure to these industries during training is a fantastic opportunity for students to get a head start and for businesses to identify the workers they need to employ so they can grow their businesses. That's what this bill is about.

The legislation has three pillars. The first is a national interest framework. This will identify sectors where we have a sustained comparative advantage in the new net zero economy, or an economic resilience and security imperative to invest. The national interest framework outlines criteria to assess sectors to determine where it is in Australia's national interest to unlock private investment at scale. It looks at economic security and resilience, considering where domestic sovereign capability is necessary to protect our national security interests or to ensure that our economy is sufficiently resilient to shocks. It also focuses on net zero transformation, where industries support global decarbonisation and there is a reasonable prospect of sustained comparative advantage.

The second pillar is a robust sector assessment process to help us better understand and break down barriers to private investment in key areas of the economy. This transparent, Treasury-led analysis will look at the extent that sectors align with the National Interest Framework, and these assessments will be tabled in parliament to support transparency and rigorous decision-making and to help deliver value for money. Public investment will be an important and substantial part of our plan, unlike the plan of those opposite, who were unable to attract private investment interest in their eye-wateringly expensive, far-fetched nuclear plan.

The most important role for public investment will be to unlock the vast amount of private sector capital that we will need to transition the energy system and realise the net zero opportunity in heavy industries. The framework and the sector assessments will be instrumental here, identifying the barriers to private investment and opportunities to address those barriers, informed by Treasury's expert analysis and evidence-based assessments—on top of their normal policy advice—and helping private investors to make considered decisions, confident that they know where the government stands.

The third pillar is a set of community benefit principles that will ensure that public investment and the private investment it generates leads to returns and also to stronger communities. The three pillars will work together to help us build a more diversified and a more resilient economy, powered by renewable energy.

This Future Made in Australia Bill is about protecting the interests of this country through stronger domestic industrial capabilities, sovereign capability and stronger local supply chains. It's about developing a more complex economic offering in line with our capability and know-how and about taking advantage of our natural assets—abundant renewable resources, solar, wind, hydro and critical mineral deposits. As always with this government, this is also about generating good-quality, secure, well-paid jobs and careers for Australians. I commend the bill to the House.

Andrew Willcox (Dawson, Liberal National Party) Share this | Link to this | Hansard source

I rise today to speak on the Future Made in Australia Bill 2024, but, unfortunately, unless there's a change of government, there is to be no future made in Australia. There is simply none. Every time the Albanese Labor government is faced with a challenge or faced with some questions, they come up with the wrong answers. We have a major security issue in this current situation. The No. 1 thing a federal government and a prime minister should do is look after our borders and keep our people safe. Unfortunately, they are failing on many fronts.

Minister Giles, the previous immigration minister, let 152 detainees out and, most of the time, didn't know where they were. Now, the Prime Minister is looking to let Gazan refugees from that war-torn nation into our country without the right checks and balances. There is no chance of having any future made in Australia unless we get our borders, our immigration and our security under control, and we need to keep Australians safe.

The second point is energy. The Albanese policy around energy is a disaster. Electricity prices are going through the roof. This is after we were promised on 97 occasions that power prices would come down if an Albanese Labor government was elected. It simply hasn't happened. This is all due to the reckless race to renewables. It's making power prices go through the roof. The other thing with renewables is that it's an intermittent and unreliable energy source, which simply does not help the manufacturing industry whatsoever. The manufacturing industry needs power 24/7 and renewables cannot provide it. Solar only works when the sun is shining. Wind turbines only work when the wind is blowing. Of course, they are now talking about back-up batteries. How long do they last? Point to me anywhere else in Australia, or anywhere else in the world, where batteries will make manufacturing work? I'd be very interested if someone can do that.

Manufacturing requires a large amount of capital expenditure. It's a huge amount of capital expenditure. So when the manufacturing industry pays for capex, whatever industry they're in, they need to be able to use that 24/7. It's the only way that they can make their repayments. It's the only way they can make their business model work. You simply can't do that with renewable energy. Then I hear those opposite saying: 'We're going to supplement with hydro. When the wind doesn't blow and the sun doesn't shine, we are going to use hydro.' Again, it is a weather-dependent form of energy. There is no energy created out of pumped hydro. All it does is go round and round. You buy it on the margin. That's how it works. We need it 24/7. That's why we need to keep our coal-fired power stations going and have a look at investing in new technology, nuclear technology.

Business is moving offshore. We are losing businesses. I was actually talking to a large-business owner who doesn't want to be named but said: 'Andrew, the situation is that capital is very portable now. We can move it all over the world. We're not going to invest it in Australia if there is this unreliability of energy and unreliability of government.' I said, 'I fully get it.' I'm a farmer by trade. We used to pack tomatoes by hand. We used to pick the colours and the sizes by hand. Then an electronic grader came in. That's the innovation we have in this country. We can have innovation and we can actually make sure that we can develop things and improve. But we can't do that if we haven't got our energy under control. We have a huge resources sector in Australia. There's lots of coal and uranium still in the ground, as well as precious minerals. We need to be mining these resources and using them. We should have the cheapest form of energy any place in the world. That's what we'll do if a future coalition government gets in.

'Future Made in Australia' should be one of the greatest pieces of legislation the government can introduce in the House; however, don't let the title confuse you. This Albanese Labor government continues to confirm day in and day out that it simply is just not up to the job. How can I, in good faith, support this legislation when I know for a fact that the Labor and Greens in coalition with the unions have destroyed manufacturing in this country? This legislation will do nothing for jobs and nothing for the economy. This legislation, put in plain context, is a plan for more bureaucracy, not for business investment. Just last week, the RBA advised the government to stop this fake spending as it is fuelling inflation and hurting Australian. So what does this incompetent Albanese Labor government do? It just keeps spending your money. It would be laughable if it weren't so serious.

Already the idea of this legislation is raising serious doubts about the PsiQuantum contract. This taxpayer funded investment bypassed the National Interest Framework. Can you believe that? It bypassed it. It has some serious questions to answer about the decision to even make that investment. Minister Husic decided to invest in this business independent of any department appraisal, analysis or recommendation. Treasury was not consulted. The subsequent analysis has said that it is not a sound investment. Treasury was not consulted, and their subsequent analysis has said, 'This is not a sound investment.' Millions of dollars of taxpayer' money and a decision made by a minister who has never owned or run a business—great idea, eh?

The cost of energy, the cost of power in this country is out of control. We need to invest in nuclear technology—technology that will create power 24/7. That's what we need to do and that is what manufacturing requires for us in this country. We need better IR laws. Every time a Labor government comes in they change the IR laws and make it more difficult for business. How can business prosper, how can they go forward if they're hamstrung by more and more difficult laws?

Patrick Gorman (Perth, Australian Labor Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

A point of order on relevance. The speaker has had quite a wideranging opportunity to give views on a range of policy areas but we have well and truly strayed from relevant topics.

Phillip Thompson (Herbert, Liberal National Party, Shadow Assistant Minister for Defence) Share this | Link to this | Hansard source

This is relevant.

Maria Vamvakinou (Calwell, Australian Labor Party) Share this | Link to this | Hansard source

For the benefit of the speaker who's on his feet, I would like to suggest that you continue with your speech and remain relevant to the bill.

Andrew Willcox (Dawson, Liberal National Party) Share this | Link to this | Hansard source

Thank you very much, and I take the interjection. You probably struggle so much on the other side because you don't know how business runs. Energy is very, very important and you need to have it at the right—

An honourable member interjecting—

I don't know what you do, champion, but I'll back you in every day. There's no problem. I'm sure we can compare notes, but thank you for your interjection. Regarding industrial relations, say if you're going to value add on some farming products, and it's a perishable product. You need to be able to do those, so you need inflexible industrial relations policies and you need flexible wage—How do I say it?

Patrick Gorman (Perth, Australian Labor Party, Assistant Minister to the Prime Minister) Share this | Link to this | Hansard source

Just say wage cuts.

Andrew Willcox (Dawson, Liberal National Party) Share this | Link to this | Hansard source

Wage cuts? I think he'd had his fair go there, Deputy Speaker.

Maria Vamvakinou (Calwell, Australian Labor Party) Share this | Link to this | Hansard source

Order. The member for Dawson will be heard without interjection.

Andrew Willcox (Dawson, Liberal National Party) Share this | Link to this | Hansard source

Let's move onto the red and green tape that's created by the Labor government. We have a company called Gilmour Space in my electorate of Dawson which is waiting on approval from the space agency. They've been waiting for a long time now and that's the only thing that is stopping them from launching their rocket. This is sovereign manufacturing of rockets—of potential missiles to defend our country—right here in this country. Why would you not support that and get behind it so we can (1) defend ourselves and (2) put some more satellites up into space? That is manufacturing right here in this country.

Regarding reliable telecommunications. Those opposite have cut the black spot funding. There's an agave farm in my electorate that is using a lot of different technology and developing more technology. However, they're being hamstrung by the telecommunications within the area. And now the black spot funding has been cut.

The biggest booster of green hydrogen, Fortescue, is scaling back their ambitions for green hydrogen despite the promise of tax credits just for existing. Labor's production credits are also failing to deliver for the struggling nickel industry. Labor just keeps on breaking their own rules when it suits them and playing with Australia's future.

I come from the regions. I'm not sure the last time a federal Labor member or senator was in my seat of Dawson for longer than five minutes, but if they had the courage to visit the regions they would understand how difficult it is to run a business. To manufacture anything successfully from day one you need to ensure profitability. Those opposite, and in particular the Treasurer—who has never run a business in his life—fail to understand this basic principle.

An article in the Australian titled 'Regions put living costs top of their concerns list' states:

Cost-of-living pressure is the most universal issue among regional Australians, who say reducing price increases for household bills and other essential expenses should be a government priority.

Again I point to the new NAPLAN data. There's another wake-up call in this quote from the Courier Mail:

… Queensland kids are falling behind in the classroom with new NAPLAN results revealing concerning—

Sharon Claydon (Newcastle, Australian Labor Party) Share this | Link to this | Hansard source

The debate is interrupted in accordance with standing order 43. The debate may be resumed at a later hour, and the member will be granted leave to continue his speech when the debate is resumed.