Guardrails for Labor’s landmark industry policy will be announced by Treasurer Jim Chalmers on Wednesday — a day after the investment vehicle provided fresh equity to a Silicon Valley-based tech start-up.
In April, the Albanese government launched its Future Made in Australia plan, joining the roster of countries that had erected subsidies and trade barriers, spurred by economic upheaval following the global pandemic and China’s growing assertiveness.
But in the midst of continued criticism from economists, industry experts and even the government’s own hand picked Productivity Commission chief that the policy risks making Australian enterprise more inefficient, Dr Chalmers will on Wednesday announce the framework underpinning Labor’s flagship industry policy.
“Where markets are nascent or don’t yet exist, there can be a case for targeted, temporary support to crowd in private investment – especially in industries that meet strict criteria,” Dr Chalmers will say in an address to foreign affairs thi...
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