The Morrison Government will back Australia’s manufacturing sector to expand and create more jobs and a reinvigorated ‘Australian Made’ campaign will help grow export markets.
Traditional industries remain an important part of the Australian economy, with manufacturing employing hundreds of thousands of Australians – close to seven per cent of the workforce.
Building on our vigorous free trade and export agenda, the Morrison Government will reinvigorate the ‘Australian Made’ campaign with up to $5 million to promote the logo in Australia’s key export markets and establish new trademarks in markets like the European Union, UK and Canada. The Coalition will also create a Manufacturing Modernisation Fund that will stimulate at least $160 million worth of business investment in new technologies and processes so manufacturers can grow and employ even more people.
The Prime Minister said his government would back Australian manufacturers to tap into global markets to reach more customers and create more jobs.
“Our plan for a stronger economy will help take Australian products to the world backed in by the reputation our manufacturers have built over the years,” the Prime Minister said.
“People all over the world know the ‘Australian Made’ logo means quality. Our plan is about giving those hardworking businesses a competitive edge in overseas markets.
Minister for Industry, Science and Technology Karen Andrews said the Coalition would also help small and medium sized manufacturers invest in new technologies, processes and high-value products so local manufacturers can expand and prepare for the future, including for Industry 4.0.
“We want to keep our manufacturers at the cutting edge so they can create more jobs,” Minister Andrews said.
“That is why we will establish a Manufacturing Modernisation Fund which will stimulate at least $160 million of investment in the sector, with an extra $50 million from Government to be matched by at least $110 million from industry.”
The Fund will include:
• $20 million in matched grants of between $50,000 to $100,000 for smaller-scale investments in technology and efficiency improvements.
• $30 million in larger-scale grants of up to $1 million to support more transformative investments in technologies and processes, with industry to provide $3 for every $1 of government funding.
This builds on the Government’s investment of $100 million in the Advanced Manufacturing Fund, the creation of the Advanced Manufacturing Growth Centre, support through the Entrepreneurs Program and $40 million for the Innovative Manufacturing Cooperative Research Centre.
These new initiatives build on the Coalition’s broader economic policies of free trade, lower energy prices, lower taxes for small and medium businesses, more skilled workers and maintaining a robust anti-dumping system, which are critical for the manufacturing sector.
Manufacturing under the Coalition has been stable or expanded for 32 consecutive according to the Australian Industry Group’s Performance of Manufacturing Index.
By contrast, Labor’s $387 billion worth of higher taxes, reckless emissions reduction targets and workplace relations policies pose a major threat to the manufacturing sector. Labor’s record speaks for itself – when they were last in government, one in eight manufacturing jobs disappeared.
Only under the Liberal National Government’s strong economic management can local manufacturers have confidence in the future of their industry.