7Future Made in Australia Bill 2024
The order of the day having been read for the resumption of the debate on the question—That the bill be now read a second time—And on the amendment moved thereto by Mr Taylor, viz.—That all words after “That” be omitted with a view to substituting the following words:
“the House declines to give the bill a second reading, and:
(1)notes:
(a)the failure of billions of dollars of the Government’s Future Made in Australia spending to meet the standards and processes laid out in this bill and the significant integrity concerns around these investments;
(b)the Government’s Future Made in Australia policy has been criticised by many eminent economists including the Productivity Commission’s Danielle Wood, former Productivity Commissioner Gary Banks, Australian National University visiting fellow Steven Hamilton, and University of New South Wales’ Professor Richard Holden; and
(c)this policy does not make up for the Government’s failures on economic management that are driving up the costs of manufacturing and have caused a tripling of manufacturing insolvencies since June 2022; and
(2)calls on the Government to get Australia’s economy back on track and back to basics by fighting inflation and reducing wasteful spending, reducing complexity and red tape for business, supporting affordable, reliable energy, and delivering lower, simpler, fairer taxes”—
And on the amendment moved thereto by Dr Haines, viz.—That all words after “House” be omitted with a view to substituting the following words:
“whilst not declining to give the bill a second reading:
(1)notes that:
(a)the 2024-25 Budget allocated $22.7 billion in taxpayer funds to the Future Made in Australia program;
(b)this is the second largest Budget measure announced in this term of Parliament; and
(c)concerns have been raised by the Productivity Commission, the Grattan Institute, the Climate Council of Australia, BP Australia, and the Australian Chamber of Commerce and Industry that the bill contains inadequate transparency measures to ensure Australians know how their money is being spent on Future Made in Australia supports;
(2)recognises that my Accountability of Grants, Investment Mandates and Use of Public Resources Amendment (End Pork Barrelling) Bill 2024 provides the necessary framework to help ensure the Government’s spending of taxpayer money to deliver the Future Made in Australia plan is transparent and fair; and
(3)calls on the Government to support my Accountability of Grants, Investment Mandates and Use of Public Resources Amendment (End Pork Barrelling) Bill 2024”—
And on the amendment moved thereto by Dr M Ryan, viz.—That all words after “reading” be omitted with a view to substituting the following words:
“notes that:
(1)the Future Made in Australia National Interest framework should be configured as the foundational reference for Australia’s industry policy;
(2)a robust governance structure for the framework must be ensured;
(3)clear criteria for national funding in the national interest should be established; and
(4)there should be periodic, independent reviews to ensure that industry policy remains effective and relevant”—
Debate resumed.