Our careful economic management helps Australians with the cost of living today, at the same time as we set our country up for the future.
Labor is bringing back manufacturing. We’re ensuring that through solar, wind and green hydrogen, we’ll harness cleaner and cheaper energy to deliver a new generation
of manufacturing jobs – a future made in Australia.
Making our future here in Australia is about making the most of our nation’s potential and ensuring everyone shares in the benefits
• Our $15 billion National Reconstruction Fund is up and running and has already invested $400 million in Australian businesses building things here and exporting them to the world – in mining, AI, healthcare and space.
• Creation of the $17 billion Critical Minerals Production Tax Incentive to drive investment in Australian capability in critical minerals processing.
• $2.2 billion in new loans to critical minerals projects through the Critical Minerals Facility and Northern Australia Infrastructure Facility and 21 grants at a value of $113 million to critical minerals projects across Australia.
• $400 million Industry Growth Program is supporting emerging manufacturers across the nation, with more than $26 million in funding across 20 projects already announced and more than 1200 applications approved for the program’s advisory services.
• We’ve secured a strong future for Australian made aluminium with a $2 billion Green Aluminium Production credit. Workers at Boyne, Tomago, Portland and Bell Bay smelters along with the 75,000 workers across the country who rely on the aluminium sector have support from our Government to keep building Australia’s future.
• Attracting investment in key industries and reviving our industrial capability.
• Committing $1.5 billion to scale up manufacturing of clean energy technologies including solar and batteries.
• Investing in Australian clinical trials for new medicines, and investing in domestic medicine manufacturing.
• Making a generational investment in resources and science, with a $3.5 billion investment in Geoscience Australia to map the mineral and energy resources that will power our future.
• $3.4 billion generational investment in Geoscience Australia to map our mineral and energy wealth, and cementing an enduring partnership with the US Government for the Landsat Next satellite and land imaging program.
• Launched a landmark independent examination of Australia’s R&D system, the biggest in twenty years, chaired by Australian business leader Robyn Denholm.
• We are investing $470 million in equity and loans to make PsiQuantum the anchor tenant of an Australian quantum precinct, building the world’s first fault tolerant quantum computer in Brisbane, establishing its Asia-Pacific HQ and delivering industry, higher education and research commitments in Australia.
• We’ve reformed tax incentives to drive massive investment into industries like critical minerals and hydrogen that will set up Australia’s manufacturing and export future.
• Supporting small businesses to grasp the opportunities of our transforming economy.
• Supporting small businesses. We’re taking action to ensure small businesses are paid on time and easing pressure on small businesses with energy bill relief and the instant asset write-off.
• Keeping the NBN public and affordable.
• Delivering NBN upgrades on time and budget: on track to expand fibre to 3.5 million new homes and businesses by the end of 2025.
• Finishing the NBN for the final 622,000 premises by 2030 and keeping it in public hands.
• Opening up new markets for our world-class exports and creating more well-paying, secure jobs at home.
• Supporting Australian farmers, helping them to get a fairer deal when dealing with the supermarkets and to deal with the impacts of climate change.
• Removed over $20 billion worth of trade impediments with China for Australian exporters, including the full resumption of Australian rock lobster, wine, coal, timber, beef, cotton and copper exports to China.
• Supporting the creation of jobs through the growth of Australia’s tourism industry, climbing back to pre-pandemic levels.
• Investing in Northern Australia through a $2 billion expansion of the Northern Australia Infrastructure Facility; a new Action Plan and $500 million earmarked for critical minerals projects.
• Created more than 1.1 million jobs since we came into government. This is the first time a government has done this in a single parliamentary term.
• Delivering over half a million Free TAFE places and making Free TAFE permanent – helping Australians to gain skills and get ahead, as well as supporting businesses who need more skilled workers.
• Established Jobs & Skills Australia to tackle skills shortages and better plan to meet labour market needs.
• Expanding and reforming tertiary education for a more skilled workforce, including accelerating the development of the clean energy workforce by upgrading training facilities, supporting teachers and trainers, and expanding access to the New Energy Apprenticeship Program.
• Planning for our future gas needs with our Future Gas Strategy and securing Australian domestic gas supplies through:
• 600 petajoules of gas for Australian gas users secured through the Mandatory Gas Code
• awarding new production licences in the Otway Basin, Victoria
• awarding 5 new exploration permits
• kickstarting exploration for CCS sites by awarding 10 new permits
• a stronger Australian Domestic Gas Security Mechanism
• We’re doing everything we responsibly can to bring down inflation. Inflation is now almost a third of what it was at the election.
• Delivered back-to-back surpluses, the largest consecutive surpluses in Australia’s history, helping fight inflation and reduce debt.
• Carefully managing the economy and providing cost of living relief while fighting inflation.
