The $15 billion National Reconstruction Fund, one of the largest peacetime industry investments, has become more important due to tightening capital markets, Industry Minister Ed Husic says.
The fund will be an off-budget loan scheme to facilitate the manufacture of products domestically. It is one of several off-budget funds, worth $47 billion, which Labor promised before the election. While these priority areas have been determined by the government, investment decisions in individual projects will be made by an independent board at arm’s length from government.
“Around the world, industry policy is being remade to shore up local manufacturing capability. Now, Australia can be a bystander or it can be a driver of change,” he will say.
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Source: FinancialReview - 🏆 2. / 90 Read more »