Australia’s manufacturing sector to receive AU$1.5b boost from federal government

Six Industries — resources technology and critical minerals, food beverages, medical products, recycling and clean energy, space, and defence — have all been promised a piece of the Australian government’s AU$1.5 billion manufacturing revitalisation package over the next four years, starting in 2021.

“The objective is to build scale and capture income in high value areas of manufacturing where Australia either has established competitive strength or emerging priorities,” Prime Minister Scott Morrison said, during his pre-budget speech at the National Press Club on Thursday.

“This will require our manufacturing sector to be even more productive and highly skilled, to be more collaborative at the leading edge of R&D, commercialisation, and technology adoption, to be more outward-looking, and be searching relentlessly for footholds in global markets.”

Of the AU$1.5 billion, which is the latest pledge by the Morrison government ahead of the federal budget next Tuesday, AU$1.3 billion will be used

Read More