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

My question is for the Minister representing the Minister for Industry and Science, Senator Farrell. Yesterday, members of the government and the crossbench came together to support the passage of the National Reconstruction Fund Corporation Bill in this place. It was a great win for manufacturing. Can the minister outline how the passage of the NRF will support Australian manufacturing?

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

It's good to get some questions, at least from my own side. The other side seem to have given up on me!

Honourable senato rs interjecting—

I know you've got a great interest in rebuilding manufacturing in this country. Last night the Senate passed the National Reconstruction Fund Corporation Bill, and this is one of the largest investments in manufacturing in Australia's history. This is the Albanese Labor government's first step in rebuilding Australia's industrial capability—and I was pleased to see Senator Colbeck last night picking up on this very point and making it on a number of occasions—so that we can be a country that makes things again. Australia should be a country that makes things. Australia must be a country that makes things because making things here will help secure Australia's future prosperity and drive sustainable economic growth.

The National Reconstruction Fund will leverage Australia's natural and competitive strengths by providing finance to projects in priority areas. It will make investments in projects that will support, diversify and transform Australia's industry. In agriculture, forestry and fisheries, in resources, in transport, in medical science, in renewable and low-emissions technology, in defence capability and enabling capability, the National Reconstruction Fund will revitalise and strengthen our local supply chains to ensure that we have our own industrial and manufacturing capabilities. It will invest in businesses so that they can invest in their workers, developing the skills that we need now and into the future. We got to this point by working together with the crossbench, and I congratulate them because, when the coalition stepped back, the crossbench had to step up. (Time expired)

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

Senator Stewart, first supplementary?

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

Thank you, Minister Farrell. Our government actively engaged with the Greens and the crossbench on the legislation, and following this engagement the Senate agreed to a number of amendments to the bill. How will the amendments to the bill help create a stronger future for Australian industry?

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

I thank Senator Stewart once again for her very salient question. The amendments the government made to the bill addressed a number of other important matters that have informed our design of the National Reconstruction Fund from the outset: attracting private sector investment, not crowding it out; achieving Australia's greenhouse gas emissions reduction target and decarbonisation; creating secure jobs and a skilled and adaptable workforce; enhancing resilience in Australia's supply chains; and, of course, encouraging the commercialisation of Australian innovation and technology. In making these amendments, the government reaffirms that one of the most important outcomes of the National Reconstruction Fund will be the creation of secure, well-paid jobs in key industries that build on our national strengths.

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

Senator Stewart, second supplementary?

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

Thank you, Minister. Labor is actively working with industry and workers to rectify the economic mess left by the former government. How will the passage of the National Reconstruction Fund Corporation Bill create secure jobs in this country?

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

Thank you again, Senator Stewart, for your prescient question. When we proposed the National Reconstruction Fund in March 2021, Labor said we were going to do this to rebuild secure work because we know a strong domestic manufacturing industry provides opportunities for Australians to make a meaningful high skilled contribution to our nation's future.

Nearly 85 per cent of jobs in manufacturing are full time, and it's a shame that the coalition didn't get this message. They were opposed to creating new jobs in their communities. They were opposed to local manufacturers, just like they were opposed to the car industry in this country. The only jobs they're ever interested in are jobs for their mates. With the passage of the National Reconstruction Fund, the Albanese Labor government will create jobs that communities can be built around, especially in regional, remote and outer suburban Australia. (Time expired)