Kate Lundy (ACT, Australian Labor Party, Minister Assisting for Industry and Innovation) Share this | Hansard source

The non-government members of the Prime Minister's Manufacturing Taskforce, representing business, unions and the research sector, have produced a comprehensive report entitled Smarter manufacturing for a smarter Australia. The report makes a strong case for the vital role that manufacturing plays in our economy, both now and in the long term. I quote from the report:

The non-government Taskforce leaders believe that Australia’s future will be brighter with a broad-based national economy, built on more than a few industries in more than a few regions. A broad based national economy is one that is stronger, more resilient, more innovative and ultimately more able to provide for the needs of Australia and Australians.

It is how we can break the cycle after the ‘lost decade’ in which apparent prosperity has boomed, while underlying productivity growth has stalled and competitiveness gone backwards.

The report acknowledges that the manufacturing sector currently faces challenges such as the high Australian dollar and more intensive global and regional competition. However, the task force makes it clear that manufacturing can prosper and grow by taking advantage of the significant emerging opportunities, especially in the Asia region. The task force report builds on the government's current policy settings, with a strong set of proposals to ensure that manufacturing is a dynamic contributor to Australia's prosperity and an important part of a diverse economy that creates skilled jobs.