Business Groups Stress the Importance of Reducing Red Tape for the Success of the Future Made in Australia Act

Business lobby groups are calling on the federal government to enhance Australia’s competitiveness to ensure that the country can fully benefit from the recently introduced Future Made in Australia Act.

The proposed legislation aims to bolster domestic manufacturing and support the shift to renewable energy, garnering positive feedback from various sectors concerned.

Under the act, $1.2 billion (US$775.5 million) will be allocated to the Future Made in Australia Skills Plan, focusing on addressing skill shortages with new university and TAFE placements. This initiative has been well received by the education sector.

Universities Australia CEO Luke Sheehy emphasized the crucial role of universities in providing skilled workers and driving research and development to guide Australia through future challenges and opportunities.

The Australian Academy of Technological Sciences and Engineering (ATSE) stated that the Act can combat Australia’s declining economic complexity and productivity growth. However, the organization urged for increased funding in research and development.

Both the Clean Energy Council and Climate Council endorsed the initiative, citing its potential to reduce pollution and solidify Australia’s position in clean energy.

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