Deborah O'Neill (NSW, Australian Labor Party) Share this | Link to this | Hansard source

My question is to Senator Farrell, the Minister representing the Minister for Industry and Science. What are the government's plans to build a strong and growing manufacturing industry in Australia?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator O'Neill for her very deep interest in this area and, of course, her interest in ensuring a new Labor government in New South Wales this coming weekend. Australia must be a country that makes things. The $115 billion National Reconstruction Fund is a key platform to support, diversify and transform Australian industry. The NRF will target projects and investments that help Australia capture new, high-value market opportunities. This will help our businesses grow and succeed in the economies of both today and tomorrow.

The NRF will provide finance to grow advanced manufacturing and support businesses to innovate and to move up the technological ladder, but it also supports out national sovereign capability. In the early days of the pandemic, people were shocked that Australia couldn't make enough masks or PPEs for our population. It showed the vulnerability of being the last link in the global supply chain. But the National Reconstruction Fund is about more than helping us produce things at short notice in times of crisis. It's about building a more resilient and more diversified economy with more jobs in regional Australia.

At the very heart of the National Reconstruction Fund is an ironclad belief in the capability of Australian know-how. The Albanese Government is committed to diversifying our industrial base, and the National Reconstruction Fund is the key to unlocking Australia's potential. I call on all senators in this chamber to support the National Reconstruction Fund.

Sue Lines (President) Share this | Link to this | Hansard source

Senator O'Neill, first supplementary?

Deborah O'Neill (NSW, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Senator Farrell. My second question to you today is: why is a vibrant Australian manufacturing industry important, and what challenges does the Australian industry face?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator O'Neill again for her question. Manufacturing does matter because it creates sustainable, secure, well-paying jobs—from coders to welders, designers, researchers, process workers and everything in between—including in regional Australia and our outer suburbs. For too long, the Australian manufacturing industry has been subject to the threat of political games by the opposition. The NRF will be independently run on a commercial basis with decisions taken in the national interest, not marginal-seat politics—no colour-coded spreadsheets here. Again I call on all senators in the chamber to realise this opportunity to support Australian manufacturing and support the National Reconstruction Fund.

Sue Lines (President) Share this | Link to this | Hansard source

Senator O'Neill, a second supplementary?

Deborah O'Neill (NSW, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Senator Farrell, and I appreciate your good wishes for the people of New South Wales on the weekend. What are the international market opportunities that will help our industry grow, and what threats are there to that bright future?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I again thank Senator O'Neill for her question. We are supporting manufacturing through the NRF but also by creating new international market opportunities for high-quality Australian products. The Albanese Labor government is opening up new and diversified markets for Australian goods in countries like India. On my recent visit to India with the Prime Minister, we were accompanied by the president of an Australian based hearing device manufacturer, Cochlear. They're working hard to expand their distribution networks in India so more Indian people have access to this incredible Australian innovation, which creates more jobs both there and at home. For too long, our exports have been concentrated in a single market. Under our trade diversification plan, more Australian made products will be enjoyed around the world, including in India. (Time expired)