The $15 billion National Reconstruction Fund is aimed at broadening Australia's domestic industrial base and reducing the nation's dependence on imports. But how will it do this?
abc.net.au/news/federal-government-s-15-billion-manufacturing-fund-passes-senate/102157030The federal government is celebrating the passage of its manufacturing investment scheme, the National Reconstruction Fund, through the Senate after it landed the support of the crossbench.
On Tuesday independent senators David Pocock and Lidia Thorpe as well as the two senators from the Jacqui Lambie Network also agreed to back the Fund.A significant election commitment, the fund has been designed to invest in renewables and low emissions technologies; medical science; transport; value-add in agriculture, forestry and fisheries; value-add in resources; defence capability; and enabling capabilities.
Revenue generated through the fund's investments would then be reinvested to support new projects with the board to decide which projects receive funding support.
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