I think the Federal Budget will be a positive for RFT on a...

I think the Federal Budget will be a positive for RFT on a number of fronts: Manufacturing, RFT may benefit under Defence and Clean Energy sectors. In addition to possible renewable energy funding. Tax incentives for R&D. A strong US dollar could help as a lot of our income is derived in US dollars.

Manufacturing
Mr Speaker, Covid-19 has reinforced the importance of Australia’s sovereign manufacturing capability. Almost overnight, resourceful Australian businesses adapted.A reconfigured supply chain tripled mask production at a factory in Shepparton. Production lines for sleep apnoea devices were converted to make ventilators in western Sydney. Gin distilleries became manufacturers of hand sanitiser across Tasmania.Tonight, we build on these strengths with a plan to ensure Australian manufacturing plays an even greater role in our economic recovery.

Our $1.3bn modern manufacturing plan will target six national manufacturing priorities:

food and beverage manufacturing
resources technology and critical minerals processing
medical products
recycling and clean energy
defence industry, and space industry

This plan is built on the jobmaker platform of enabling our manufacturing businesses to be globally competitive through cheaper and more reliable energy. Better skills and training. Lower taxes. Less red tape and more flexible workplaces.Mr Speaker, research and development, the adoption of digital technology, and affordable and reliable energy will be critical to Australia’s future economic prosperity.In this budget, we are providing $2bn in additional research and development incentives – removing the cap on refunds, lifting the rate and rewarding those businesses that invest the most.We are also providing:

$459m in additional funding to the CSIRO

$1bn for new research funding for our universities, backing our best and brightest minds whose ideas will help drive our recovery

$1.9bn in new funding as part of our energy plan to support low emissions and renewable technologies, helping to lower emissions and address climate change.