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Labor's 'Future Made in Australia' emphasising local industry and the importance of Australian steel in energy transition

Labor promotes a "Future Made in Australia," yet rejects mandating Australian steel, undermining local industry and threatening economic stability amid falling iron ore prices and growing demand for homegrown manufacturing.

By news@gippsland - 28th October 2024 - Back to News

Labor is flaunting a Future Made in Australia, but they only want to be seen making attractive parts like solar panels and batteries. And, is it really a Future Made in Australia when Minister Bowen has refused to mandate the use of Australian steel in the energy transition? That's right - iron is one of many resources that Australia has an advantage in, and it is highly relevant to the fairytale energy transition - but still, the government doesn't want a bar of it.

Iron ore prices have dropped 30% due to declining Chinese demand, risking a $3 billion budget shortfall and highlighting the need to support local manufacturing, states Russell Broadbent

Strengthening local industry

Supporting homegrown Australian industry is becoming more and more important to our local economy and national security. This year, iron ore prices have fallen by 30% caused by the downturn in Chinese demand which threatens to leave our nation's budget worse off by $3bn.

This serves as a timely reminder why we can, and should, be supporting Australian industry to preserve the local benefit of local manufacturing. We shouldn't have to reach into the taxpayer's pocket when our land abounds in nature's gifts of beauty, rich and rare. A Future Made in Australia can be achieved organically using natural resources.

Pictures from Russell Broadbent MP website.

Source: http://gippsland.com/

Published by: news@gippsland.com