The National Reconstruction Fund must think big to deliver
From critical minerals to clean energy, the National Reconstruction Fund will be key to building a stronger, more resilient Australian economy.
Australia is fortunate to have the National Reconstruction Fund in its industry policy toolkit. Over the past couple of years, there has been a massive effort to turn the promise of the Fund into a living, breathing organisation.
Our government has closely watched the Fund assemble a talented team, build organisational capability, establish operational processes and procedures, and kickstart significant investments in Australia’s industrial future.
But there is much more to do to ensure Australia’s strategic and economic resilience. Consider the growing geopolitical competition around the world, including in our own region. There is substantial trade and investment uncertainty. Overcapacity and subsidies in other markets are also putting pressure on the short-term operations of core industrial assets such as Australia’s smelters and refineries.
Over the next 12 months, the strategic acumen of everyone involved in the Fund will need to be raised to match the scale of the challenges confronting Australian industry.
