Future made in Australia: PM’s plan for economic growth

Savannah Meacham |

Anthony Albanese says green energy is the key to Australia competing on a global stage.
Anthony Albanese says green energy is the key to Australia competing on a global stage.

The future of Australia and its economy relies upon locally manufactured resources at the hands of our own workers, the prime minister says. 

Anthony Albanese will unveil the Future Made in Australia Act on Thursday when he addresses Queensland’s Media Club.

“Our challenge and our great opportunity lies in anticipating change, shaping it and making sure it delivers for our people,” he will say.

“And doing this in in our own, uniquely Australian way.”

Mr Albanese says green energy is the answer to competing on a global stage.

Hydrogen, green metals, solar power, emerging renewable sources and technologies form the future of the country.

Anthony Albanese
Anthony Albanese says the shift from old forms of energy will not be easy. (Mick Tsikas/AAP PHOTOS)

The focus of the plan is boosting investment in Australia’s green resources, creating more jobs, building a strong and competitive economy.

As Australia moves towards its goal of net zero by 2050, it means shifting away from old reliable energy sources such as coal and gas that have dominated and supported a number of communities for decades.

But Mr Albanese acknowledges the shift will not happen overnight.

“This is about giving Australian businesses, Australian communities and the Australian people every possible opportunity to benefit from this moment,” he will say.

Queensland is set to be at the forefront of the transition with the development of pumped hydro, wind farms, solar and hydrogen manufacturing.

Mr Albanese likens the new era and push towards new energy resources and jobs to that of the industrial or information revolution – but bigger.

“This is not about ideology, it’s about opportunity – and urgency,” he will say.

To pull off the green energy revolution, it will require investment in a host of other aspects in Australian life such as education, housing, care, tourism and farming.

The government says it is pursuing greater investment incentives to fuel the fire for clean energy manufacturing and renewing Australia’s ownership over its resources.

Mr Albanese will say to achieve this vision, the government needs to evolve to be more strategic, sophisticated and constructive.

It will mean the government considers new trade partners aside from traditional allies such as the US and UK to broaden the import and export of different products in emerging markets.

“We need to be willing to break with old orthodoxies and pull new levers to advance the national interest,” he will say.

The speech comes a month before Treasurer Jim Chalmers hands down the budget.