Nita Green (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Resources, Senator Farrell. I refer to the Albanese Labor government's commitment to growing Australia's critical minerals industry to deliver secure, well-paid jobs and a future made in Australia. How will the production tax incentive for critical minerals encourage processing onshore, add value to our resources here in Australia and build a strong, resilient economy?

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

Thank you, Senator Green, and I know you come from the great resources state of Queensland.

Simon Birmingham (SA, Liberal Party, Shadow Minister for Foreign Affairs) Share this | Link to this | Hansard source

Not now—once great.

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

No, it'll stay great. Don't you worry! As this side of the chamber understands, the road to net zero is paved with Australian resources, resources that not only are extracted in Australia but are processed locally to create secure jobs and open up more pathways for skills and training. That includes critical minerals—an apt name given how critical they are to renewable technologies like solar panels and electric vehicles—

Why don't you solve your own problems with your former leader of the opposition in South Australia, Senator? Why don't you focus on him rather than interfering with me? I know you're embarrassed by it! That's why the Labor Party announced the production tax incentive for critical minerals.

That's very unfair! I think you should withdraw that! That's for tax incentives and critical minerals as part of the most significant budget for the resources sector in a generation. It's a foolproof, no-risk approach to grow our critical minerals industry, strengthen supply chains and create well-paid jobs in the regions. Modelling shows that building downstream critical minerals processing could generate $70 billion in GDP and create an additional 143 jobs by 2040. (Time expired)

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

Senator Green, first supplementary?

Nita Green (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Minister, for outlining how the Albanese Labor government will grow our critical minerals industry to create secure jobs and capitalise on the transition to net zero as we deliver a future made in Australia. Who is supportive of the production tax incentive and the boost it will deliver to the critical minerals projects across the country?

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

The Albanese Labor government's production tax incentive isn't just supported by the resources sector; it was developed in consultation with them. It's no wonder that the WA Nationals are supportive, and that includes the Nationals candidate for Bullwinkel, Mia Davies. Yes, she has welcomed downstream incentives. The leader of the WA Nationals, Shane Love, has said it is essential not just for Western Australia and not just for Australia but for the Western world to pursue production tax incentives like this. And it's not just the Nationals. Chalice Mining, who are developing a mining project in the Bullwinkel electorate, have hailed Labor's budget as providing crucial support to critical minerals.

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

Senator Green, second supplementary?

Nita Green (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Minister, for outlining why the sector supports the Albanese Labor government's production tax incentive for critical minerals to create secure jobs and encourage processing onshore. Minister, what is standing in the way of Labor's Future Made in Australia and our production tax credits, and what is at risk if Future Made in Australia isn't implemented?

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

You don't have to look further than those opposite to see what's standing in the way of the production tax incentive for critical minerals. The coalition opposed it within minutes of budget night and labelled it 'corporate welfare for billionaires'. That's what they did. Well, the Future Made in Australia legislation has now passed the House, with 45 Liberals and Nationals speaking against the bill and refusing to support the production tax incentive. The five Liberal senators from Western Australia will have an opportunity to speak on this legislation, and I am looking forward to you, Senator Brockman, and your colleagues supporting our production tax incentives.

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to this | Hansard source

President, I ask that further questions be placed on the Notice Paper.