Albanese to unveil new ‘Made in Australia’ Act during Brisbane visit

Australia will get left behind if the government doesn't play a larger role in attracting investment in domestic industries, says Prime Minister Anthony Albanese who is set to unveil the 'Made in Australia' Act on Thursday. It follows countries such as the United States, South Korea, and many European nations who have been pumping money into their domestic industries for a number of years in a bid to try and attract new investment on their soil. As a result of the large amount of money now flashing around their economies the Prime Minister believes Australia has no choice but to go down the same path. During an address in Brisbane on Thursday Albanese will unveil what he hopes will be a key pillar of the second term of an Albanese government –the ‘Made in Australia Act.’ The Act will evolve the way in which the government interacts with business, and the private sector in the Australian economy. The act involves a suite of new measures including subsidies, and incentives to try and attract new investment in Australian manufacturing, alongside existing programs such as the National Reconstruction Fund.