Building block for Future Made in Australia becomes law
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The news: A key block of the government’s Future Made in Australia (FMIA) has become law, with the Senate backing Australia’s first Net Zero Economy Authority.
The $22.7 billion FMIA aims to help Australia’s transition to net zero emissions by boosting manufacturing in clean industries, particularly in regional areas.
The authority will be tasked with supporting workers in emissions-intensive fields transition to new jobs, coordinate across government to help regions attract net zero industries, and support eager investors.
What they said: “[The authority] can now get stuck into securing a more coordinated net zero transformation — one that is orderly and fair and attracts the investment needed for action at scale,” said Climateworks Centre chief executive Anna Skarbek said in a statement.
Future Made in Australia to pass lower house, faces Senate battle
The news: Labor’s Future Made in Australia (FMIA) bill is set to pass the lower house today, with Prime Minister Anthony Albanese hoping to push his signature plan through the Senate later this week.
The context: Independent MP Allegra Spender confirmed the bill will pass the House of Representatives on Monday after, with tweaks suggested by the crossbench.
Spender said the changes improved on consultation requirements, and boosted transparency over investments made under FMIA. But she warned additional loopholes remained over government spending, which she said kept the door open for pork barrelling.
Labor did not need crossbench support to pass its $22.7 billion package in the lower house, but will need backing from the Greens and three other crossbenchers to succeed in the Senate.
The Greens are not confirming they will support the bill, which leader Adam Bandt has described as “an election slush fund for more coal and gas”.
But the concessions Spender referenced are broadly aligned with independent Senator David Pcocok, who will wield a key vote. Pocock is also eager to ensure FMIA is not used to subside fossil fuel companies.
What they said: “That’s just not enough discipline on government spending. And taxpayers will be the ones who pay the price if this means future ministers can get away with pork barrelling,” Spender said.
The source: Allegra Spender media release
