If elected to government on Saturday, May 21, the Australian centre-left Labor Party has promised to invest $1 billion (US$689.5 million) in advanced manufacturing to have Australia produce more of its own goods again.
This investment intends to rebuild the nation’s industrial base, creating new capabilities and opportunities for innovation in transport, defence, resources, agricultural and food processing, medical science, renewables, and low-emission technologies and manufacturing.
It comes as part of Labor’s $15 billion National Reconstruction Fund, which will provide financing to drive investment in projects that broaden Australia’s industrial base and boost regional economic development.
Labor leader Anthony Albanese said this investment is about sovereign capability and he wants to be the prime minister who helps Australia stand on its own two feet again.
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