Australian Labor party’s leader Anthony Albanese has announced his plan to create a new $1.5 billion (US$105 billion) fund to secure Australia’s medical goods supply chains.
The money would be used to boost domestic medical manufacturing capability, such as creating medical technologies, producing rapid antigen tests, and creating vaccines.
The investment, which is part of Labor’s $15 billion National Reconstruction Fund election commitment, is the third $1 billion-plus industry fund that Labor has committed following the party’s Advanced Manufacturing Fund on Monday.
During his campaign in Western Australia, Albanese said his plan aims to tackle supply chain shortages for critical products including medicines and personal protective equipment.
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