Perin Davey (NSW, National Party, Shadow Minister for Water) Share this | Hansard source

The subject of the bill is very much that, with a $15 billion commitment to deliver this National Reconstruction Fund, I cannot see anything in what is proposed that reflects on how this fund is going to help rural and regional Australia. And I am making the very valid point that the actual bill is entirely different to what people expected prior to the election and to what was promised prior to the election. We took to the election a very strong manufacturing proposal, and this bill was Labor's answer to that. However, in this bill they're not going to make any changes.

We know manufacturing is a major contributor to the Australian economy and is a major employer in so many rural towns—small, medium and large businesses alike. They're all the lifeblood of these towns. Manufacturing makes a huge contribution to the prosperity of all Australians. Our manufacturing policy was designed to encourage manufacturing investment in rural and regional Australia. But, like the rest of the economy, manufacturing is being continually dragged down by the broken promises of Labor at the state and federal government levels. This includes the increasing cost of power, which is having such a negative impact on our manufacturing sector. This bill will undermine and confuse many industry sectors as to what the government's priorities are now and into the future.

In these uncertain international times, Australian industry needs to know that the federal government has their back, but too many of our major industries don't know where they stand. Take the forestry industry, for example. On this bill—I'll keep it relevant, so Senator Pratt can continue to play on her phone and listen in and understand why we're opposed to this bill—the forestry industry made a submission as an industry stakeholder. The Australian Forest Products Association pointed out that their timber processing facilities are limited in the investment they can justify because of a shortage of wood fibre. Why is there a shortage? Because Labor governments across Australia are shutting down native forestry industries. We've got Victoria shutting down native forestry and Western Australia shutting down native forestry. But the government makes assurances: 'Oh, it's okay. We'll accept plantation forestry.' How does that help Tasmania, which is entirely dependent on native forestry? The Labor-Greens-aligned state governments are consistently shutting down this viable sustainable industry, which, ironically, helps us with our carbon capture schemes. But, no, it's not good enough, because we know the Greens' only approach to carbon capture is to lock it up and walk away—let the trees do their thing, and walk away—with no management and no return on investment.

The mining industry, for so long the backbone of our standard of living, is another industry that has been battered by Labor. In their submission on this bill, they said: 'The fastest way to attract investment to the sector is to approve and open more mines in a timely manner. The longer the approvals process the greater the perceived risk.' The ALP is shooting their program in the foot, as mines can take up to a decade to approve. We're not just talking about coalmines here. We are talking about critical minerals, which are essential for us to have a renewable energy industry in Australia. But by beefing up the National Environment Protection Authority—this is not me saying this; this is the mining industry—their own policies are at odds with the outcomes of this bill. Similar sentiments and concerns have been expressed by so many other manufacturers. The steel industry, the cement industry, aluminium—all are unclear as to what it will mean. Even the Australian Chamber of Commerce and Industry said, 'There is no clear definition of what a "priority area of the Australian economy" is.'

On the matter of fiscal responsibility of this legislation, again, like so many of Labor's thought bubbles, no consideration has been given to the inflationary pressures of this bill. That was even acknowledged by the Assistant Minister for Manufacturing during a Senate estimates hearing. The International Monetary Fund has criticised financial structures similar to the one that underpins this bill. The IMF said:

Cost-of-living support in light of high energy prices should be targeted, aimed at protecting vulnerable households and small viable firms.

The Albanese government has been repetitive in its claim as to the state of the budget they inherited, but this bill is going to add $45 billion in off-budget spending. Off-budget, unaccountable, not transparent. It's not what this government promised. They promised increased accountability and increased transparency, and yet what we are seeing is increased off-budget spending measures. Where is the fiscal responsibility? The high ground that they claim to have is looking very low indeed.

This bill highlights the inability of Labor to deliver a nonpartisan program that will assist all sectors. This bill picks favourites. This bill should not be supported in its current form. I note that the coalition have several amendments which will go some way to improving outcomes under this bill, if the amendments are passed. I would strongly request that all senators give those amendments full consideration. As it stands, I cannot support this bill, and I do not endorse it to the chamber.