Over the last thirty years, Australia has lost tens of thousands of jobs in manufacturing, as Labor and the Liberals have embraced an economic model that puts multinationals’ profits first and allows crucial industries to move offshore.
Currently, Australia exports the bulk of its minerals unprocessed. These are then manufactured into steel and other goods and shipped back to Australia at a significant mark-up. Meanwhile, COVID has exposed the weakness of global supply chains. It’s time to seriously invest in making things in Australia, and create wealth locally.
Australia invented solar panel tech, wi-fi, and the bionic eye. We used to make our own cars, and we can do it again.
We have an incredible opportunity to manufacture emission-free steel, hydrogen, solar panels and wind turbines, as well as other high-tech industries and pharmaceuticals right here in Australia. Our plan will create thousands of new jobs by using public investment to spearhead new manufacturing sectors.
The Greens will invest $500 million Green Steel Innovation Fund to establish a green steel manufacturing industry in Australia that will accelerate the shift away from using coal and create new high-value export opportunities.
The Green Steel Innovation Fund will be modelled off the existing Clean Energy Finance Corporation, to manage direct government investments.
The fund will reduce our dependence on coal, allowing us to stop Liberal and Labor’s 114 new coal and gas projects in the investment pipeline and take the climate action required to keep us safe.
The Greens will:
- Create a new $15 billion Manufacturing Australia Fund to kickstart a domestic manufacturing industry in electric cars, batteries, solar panels, wind turbines
- Establish Green Metals Australia which will invest $5.9 billion in mineral and metals manufacturing including emission-free steel
- Re-establish a publicly owned pharmaceuticals company to manufacture affordable drugs, antibiotics and other medical supplies
- Establish a $500 million Greens Steel Innovation Fund