These bills form part of the government’s Future Made in Australia (FMIA) policy to maximise the economic and industrial benefits of the move to net zero and secure Australia’s place in a changing global economic and strategic landscape.

The first chapter of this report outlines the purpose and provisions of the bills. Chapter two examines the objectives and policy design of FMIA more broadly while chapter three looks at specific parts of the FMIA bill and provides the committee view and nine recommendations.

The Committee concluded the FMIA framework is a positive reorientation of industry policy in recognition of the urgent need to reduce emissions and the opportunities presented by abundant renewable energy critical mineral resources. But it is far from perfect. 

Key recommendations

• The Australian Government should urgently fund a package to support the electrification of Australian households, with a focus on low-income households, rental properties and apartments.
• The Minister should be required to consider Sector Assessments before allocating funding to a sector.
• The Australian Government should provide clarity that neither the net zero transformation or economic resilience and security streams of the National Interest Framework will be used to support fossil fuel industries or associated infrastructure.