Article in today's Australian: Scott Morrison has accelerated the government’s $1.3bn manufacturing scheme and brought forward funding for projects and products, in a bid to protect Australia’s strategic interests amid Covid-19 disruption, Chinese aggression in the Indo-Pacific and threats to supply chains.
The Prime Minister’s push to help businesses process critical minerals and develop new defence, medical, food and beverage, clean energy and space products comes as Anthony Albanese positions manufacturing at the core of his election agenda.
After round one of the manufacturing fund was oversubscribed – only 34 projects out of 765 applications were approved – Industry Minister Angus Taylor will announce on Thursday that round-two funding worth $280m will be fast-tracked to support firms into new markets and help commercialise products.
EOS Price at posting:
$2.50 Sentiment: Buy Disclosure: Held
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