It felt like a long-awaited moment when Australian Treasurer, Jim Chalmers, stood up in the country’s Parliament in Canberra, to announce the government’s AUD $22.7bn ($15.2bn) Future Made in Australia (FMIA) Act framework, as part of his 2024-25 budget.
Offering investments into renewable energy, clean energy manufacturing, economic and workforce development, innovation and technology, and more, over the next 10 years, the package is hoped to spur domestic manufacturing while accelerating the nation on its path to Net Zero.
It came after the government announced it would respond to mammoth policies such as the US’ Inflation Reduction Act (IRA) and the European Net Zero Industry Act (NZIA), with the Chancellor claiming the package will help make Australia an “indispensable part” of the global economy.
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