Senate debates

Tuesday, 28 March 2023

Bills

National Reconstruction Fund Corporation Bill 2023; In Committee

6:28 pm

Photo of Don FarrellDon Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Duniam for his question. The priority areas declaration will be a disallowable legislative instrument made jointly by the Minister for Finance and the Minister for Industry and Science. The government has previously announced the seven areas of the economy that will be the basis of the first declaration to be made soon after the bill receives Royal Assent. The details of each area are still being considered, taking into account the comprehensive consultation conducted by the government in late 2022 and early 2023. Given that the government has not yet made a final decision on the drafting of the declaration, it is not possible to rule in or out particular projects or technologies.

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