Zaneta Mascarenhas MP
Federation Chamber, Parliament House, Canberra
Bills
I'd like to let the Federation Chamber know that the proud Australian Labor Party back workers, we back jobs and we do that by backing industry. That includes mining and manufacturing. We are doing this in buckets and spades. We believe in a future made in Australia with Australian industry, Australian innovation and Australian resources. And you know what? We haven't just learnt that manufacturing is fashionable, unlike some coalition backbenchers in recent history. This is something that we fundamentally believe. We believe it because we believe in a future made in Australia. It's not a slogan. It's backed by real investment, real jobs and real opportunities, especially for my state in Western Australia. I'm proud to be here with the Minister for Resources, who is also a proud Western Australian.
Speaking of the resources sector, it is the engine room of our economy, so much so that across Australia we see over 300,000 Australians working in mining. Their hard work helps with our national prosperity. WA is leading the way in critical minerals like lithium and rare earths—minerals that are essential for a clean energy transition. To support this, the Albanese government is investing $28 billion into the critical minerals sector. This includes $5 billion for the Critical Minerals Facility and $17 billion for the deduction tax credits. These funds will help Aussie businesses process minerals right here in Australia while creating secure, well-paid jobs, making us a key player in global supply chains.
We're also setting up a critical minerals strategic reserve with $1.2 billion to make sure that Australia stays strong during market disruptions. This is a smart policy that is thinking about how we participate in global markets while protecting Australian jobs. This also includes national agreements and stockpiling to make sure that we look after our stockpiles.
Let's talk about manufacturing. The National Reconstruction Fund is about backing a future made in Australia. Companies like Myriota are receiving federal support to grow satellite technology and create highly skilled jobs. It's about keeping talent and technology right here in Australia.
We're also investing in green industries. The $500 Green Iron Investment Fund will help WA use its renewable energy and iron ore to produce green iron, cutting emissions and creating new job opportunities. Let's think about it—this is really smart. We've got amazing resources under the ground, as the mighty Minister for Resources has said before, but we've also got resources above the ground. It's about connecting these things together. Australia can play a really important role in the green iron industry. Also, it's not just about iron. It's also about aluminium. This goes along with our $2 billion in the green aluminium production credit to assist Australia's aluminium smelters as they transition.
Battery manufacturing is another big win. With $500 million going through the Battery Breakthrough Initiative, WA can lead the way in supplying the world with clean energy storage using our critical minerals and renewable power. We're already seeing federal investment take shape in many exciting areas. Batteries are getting faster and safer and are lasting longer thanks to Australian innovation backed by this government.
Some opposition MPs have described electric vehicles as soulless. I tell you, when you get behind an electric car and you feel the torque, not only does it have soul; it's got speed as well. We're not stopping there. The Industry Growth Program is helping over 1,000 local businesses scale up. Science and research are key as well. We've invested $14 billion in R&D this year, including $45 million to support CSIRO's world-class research. We're reviewing our R&D system to make it more connected and more effective, because innovation drives productivity and resilience.
The thing I believe about Australia is that not only do we have the ingenuity; we also have the resources. But we have to make sure that we have a government that backs manufacturing, backs workers and backs the resource sector.
