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

My question is to the Minister representing the Minister for Industry and Science, Senator Farrell. I refer to the announcement this morning that the National Reconstruction Fund has made its first investment. Can the minister please update the Senate on this announcement and its impacts on manufacturing in Queensland, and how is the Albanese Labor government working with the private sector to invest more in Australian manufacturers?

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

I thank Senator Green for her question. We had a fantastic night last night with all of her constituents from the Great Barrier Reef. I know she takes great pride in that area of Australia. Obviously not only are the Albanese government delivering on electoral reform but we're also delivering in the area of the National Reconstruction Fund.

That wonderful minister, Minister Husic, has announced a $40 million investment in Russell Mineral Equipment. Russell Mineral Equipment is a 40-year-old manufacturing business that makes cutting-edge mining equipment which improves safety and productivity at mines right across the world. Their mill relining technologies are used in hard-rock mining for minerals and metals such as copper, gold, platinum, nickel, zinc and iron ore—all critical to the global energy transition. These impressive machines are made by highly skilled manufacturing workers in Toowoomba. This investment will help them grow their business, employing more workers and reaching new markets with their fantastic products. The government has always said that the role of the National Reconstruction Fund was to crowd in private-sector investment. That is what we've seen in today's announcement.

The support of the RME is part of a broader $100 million co-investment partnership with the NRF and the Resources Capital Funds. This partnership is a clear signal to industry that government is serious about supporting companies who are making mining safer, cleaner and more efficient. I'd like to congratulate RME for their success in securing this investment and thank the staff of the National Reconstruction Fund for their work in supporting a future made in Australia. (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

How does this investment in Russell Mineral Equipment fit into the Albanese Labor government's broader Future Made in Australia agenda and our support for Australian manufacturing? What challenges has the government's support for manufacturers faced so far?

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

I thank Senator Green for her question. Today's announcement is another feather in this government's cap and the minister's cap as they work to rebuild Australian manufacturing following a decade of neglect under those opposite. Our Future Made in Australia agenda is designed to strengthen our existing manufacturers and help new ones grow. It focuses on the priority areas where we have existing advantages thanks to our world-leading expertise and access to raw materials or cheap green energy.

We are doing all of this despite the relentless negativity from those opposite. They voted against establishing the National Reconstruction Fund and energy-price relief for manufacturers. They opposed our support for the resources sector like the production tax incentive. (Time expired)

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

Minister, I appreciate the additional information today about the Albanese Labor government's support for manufacturers across the country and our commitment to deliver a future made in Australia. What is standing in the way of Labor's Future Made in Australia, and what's at risk if a 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

Thank you, Senator Green, for your second supplementary question. Australia's manufacturers cannot afford to go backwards. Under the former government, 100,000 manufacturing workers lost their jobs, many of those in regional areas. Since coming to government, we have created 70,000 more manufacturing jobs. Australian manufacturers need a government that will support great businesses, like Russell Mineral Equipment, to provide high-paying jobs to high-skilled workers in regional Queensland. There's a huge global competition to attract manufacturers in a net zero future. That's exactly what this Labor government is doing. An arrogant and reckless government run by Mr Dutton is the last thing that Australia needs if we want to secure good-quality jobs in a net zero future.