Anthony Albanese reveals his bold plan for the future of Australia’s economy
The future of Australia and its economy depends on locally produced resources by our own workers, the Prime Minister says.
Anthony Albanese will unveil the Future Made in Australia Act when he addresses the Queensland Media Club on Thursday.
“Our challenge and our big opportunity lie in anticipating change, shaping it and ensuring that it delivers results for our people,” he will say.
“And we do this in our own uniquely Australian way.”
Mr Albanese says green energy is the answer to global competition.
Hydrogen, green metals, solar energy, emerging renewable sources and technologies are the future of the country.
Anthony Albanese (pictured right, next to fiancée Jodie Haydon) says the shift from old forms of energy won’t be easy
The focus of the plan is to boost investment in Australia’s green resources, create more jobs and build a strong and competitive economy.
As Australia approaches its target of net zero emissions by 2050, this means moving away from old, reliable energy sources such as coal and gas, which have dominated and supported a number of communities for decades.
But Mr Albanese acknowledges that change will not happen overnight.
“This is about ensuring that Australian businesses, Australian communities and the Australian people have every opportunity to take advantage of this moment,” he will say.
Queensland will play a leading role in the transition with the development of pumped hydro, wind farms, solar energy and hydrogen production.
Mr Albanese compares the new era and the push for new energy sources and jobs to that of the industrial or information revolution – only bigger.
“This isn’t about ideology, it’s about opportunity – and urgency,” he will say.
Delivering the green energy revolution will require investment in many other aspects of Australian life, including education, housing, healthcare, tourism and agriculture.
The government says it is pursuing greater investment incentives to stoke the fire for clean energy production and renew Australia’s ownership of its resources.
Mr Albanese will say that to achieve this vision, the Government must evolve to become more strategic, advanced and constructive.
It will mean that the government is considering new trading partners in addition to traditional allies such as the US and Britain to broaden the import and export of various products in emerging markets.
“We must be willing to break with old orthodoxies and use new levers to advance the national interest,” he will say.
The speech comes a month before Treasurer Jim Chalmers presents the budget.