Australia joins global subsidy race with ‘Future Made in Australia’ plan

Australia will launch subsidies and incentives modelled on similar efforts in the United States and Europe to help the giant commodity exporter bolster domestic manufacturing and promote industries it sees as vital to national security.
The “Future Made in Australia Act” will be unveiled by Prime Minister Anthony Albanese at a speech in Queensland state on Thursday.
While it comes with no price tag, at least A$18 billion ($12 billion) worth of incentives for renewable hydrogen, solar and manufacturing will be subsumed within the new policy rubric and additional announcements are likely in next month’s budget.
Albanese will point to government procurement contracts for local business, incentives for investors and regulatory reforms to fast-track infrastructure projects as potential areas of support.