Anthony Albanese reveals his bold plan for the future of Australia’s economy
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The future of Australia and its economy depends on locally produced resources in the hands of our own workers, says the Prime Minister.
Anthony Albanese will unveil the Future Made in Australia Act on Thursday when he addresses the Media Club of Queensland.
“Our challenge and our great opportunity lies in anticipating change, shaping it and ensuring that it delivers for our people,” he says.
“And do this in our own, uniquely Australian way.”
Albanese says green energy is the answer to competing on a global stage.
Hydrogen, green metals, solar energy, new renewable sources and technologies make up the country’s future.
Anthony Albanese (pictured right with fiancee Jodie Haydon) says the switch from old forms of energy won’t be easy
The focus of the plan is to increase investment in Australia’s green resources, create more jobs, build a strong and competitive economy.
As Australia moves towards its goal of net zero by 2050, it means moving away from old reliable energy sources such as coal and gas that have dominated and supported a number of societies for decades.
But Mr Albanese acknowledges that the change will not happen overnight.
“This is about giving Australian businesses, Australian communities and the Australian people every opportunity to take advantage of this moment,” he says.
Queensland is set to be at the forefront of the transition with the development of pumped hydro, wind farms, solar and hydrogen production.
Albanese compares the new era, pushing towards new energy resources and jobs, to the industrial or information revolution – but bigger.
“This is not about ideology, it’s about opportunity – and urgency,” he will say.
Achieving the green energy revolution will require investment in a wide range of other aspects of Australian life, such as education, housing, care, tourism and agriculture.
The government says it is pursuing greater investment incentives to fuel the fire for clean energy production and renew Australia’s ownership of its resources.
Sir. Albanese would say that to achieve this vision, the government must evolve to be more strategic, sophisticated and constructive.
This will mean that the government is considering new trading partners apart from traditional allies such as the US and the UK to expand the import and export of various products in new markets.
“We must 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 delivers the budget.