Australian manufacturing is in crisis because of the Albanese Labor Government's wrong priorities and economic incompetence.
Manufacturing insolvencies have tripled since the last election, domestic energy prices among the highest in the world, invoice defaults at record highs, declines in new orders at lows not seen since the GFC, and growth rates are anaemic for Australian industry.
How can Labor promise a future made in Australia if they cannot keep the lights on today?
While the Coalition will consider today's legislation, it does not appear to provide any real detail.
The Coalition, along with economists and industry leaders, have raised serious concerns about poor consultation, opaque tender processes, and bad policy.
The reality is this Bill will do nothing to alleviate the pressure Australian manufacturers are facing because of Labor's economic mismanagement and for too many businesses it is already too late.
As a now removed web page demonstrates this is not the first time Labor has promised Australians a 'Future Made in Australia'. It is a promise Anthony Albanese was elected on and it is a promise he has categorically failed to deliver in office.
Labor's $15 billion National Reconstruction Fund is yet to spend a single dollar.
Energy prices for manufacturers continue to soar and 90 per cent reliable baseload power is set to close under Labor's flawed 'renewables-only' approach.
Yet today with his trademark arrogance the Treasurer is out again promising a Future Made in Australia.
Underscoring Labor's real motives they are going to spend $45 million of taxpayer funds marketing the Future Made in Australia proposal.
So the test is clear: will the Australian people see ads for a Future Made in Australia before the Government funds projects?
The Deputy Leader of the Opposition and Shadow Minister for Industry, Sussan Ley, said Labor were failing manufacturers and focused on winning votes not creating jobs.
"Labor's homegrown inflation is hurting Australians, families can't plan for their next grocery shop and businesses can't plan to keep their doors open, and instead of focusing on delivering an economic plan Anthony Albanese is funding market campaigns to win votes."
"Australian manufacturers need a proper economic plan: they need cheaper and consistent energy, less red tape and industrial relations settings that work for businesses and employees, not the unions."
"The Coalition has a plan to provide cheap, clean and consistent energy to return Australia to a manufacturing powerhouse".
Shadow Treasurer Angus Taylor said the only thing being "made in Australia" is Labor's homegrown inflation crisis.
"Labor thinks it can spin and spend its way out of a cost of living crisis. You can't.
"Labor's failure to deal with the source of the problem - high inflation - continues to damage the Australian economy and vital sectors like manufacturing.
"Today's legislation does not provide any clarity for manufacturers who have been suffering under Labor's economic mismanagement.
"Labor has the wrong priorities and wrong policy settings for a prosperous economy."
