Jana Stewart (Victoria, Australian Labor Party) Share this | Hansard source

Future Made in Australia is about creating new jobs and opportunities for Australians and Future Made in Australia is for every part of our country by maximising the economic and industrial benefits of the move to net zero and securing Australia's place in a changing global, economic and strategic landscape. Australia is an incredibly beautiful place. I might be a little biased when I say the Murray River in particular is the most beautiful place in our country. But, in Australia, we don't just have an incredible landscape; we are also abundant with opportunities to harness renewable energy. But these opportunities are locked behind the upfront public and private investment needed to build the infrastructure and to train the workers to harness, store and fuel our homes with cheaper, cleaner energy.

The rest of the world can see the unique position of Australia. As the world rapidly transitions to renewable energy, private investors are lining up, knocking on our doors and relocating their top minds to Australia to be part of our journey to becoming a renewable energy superpower. However, they need clarity, certainty and cooperation from the Australian government to commit to building and developing renewable energy projects here.

This is precisely what the Future Made in Australia Bill 2024 is about—providing that clarity and unlocking opportunities for all Australians to benefit from the global shift to renewable energy. This bill does this by giving the government the authority to ask Treasury to evaluate an industry and decide if Australia should invest in it and how to attract private investment. The bill sets up a clear and open process for these evaluations, making sure our decisions are well-founded and transparent, outline what Treasury will look for when making these assessments.