An Albanese Labor Government will make it the first priority of Labor's National Reconstruction Fund to deliver mRNA vaccine and RNA medicine manufacturing capacity right here in Australia, creating jobs and a new high-tech manufacturing industry.
The Morrison Government has had over a year to invest in this capability and they haven't, once again leaving Australia missing out on new jobs and manufacturing opportunities.
We currently do not have capacity to manufacture state of the art mRNA vaccines and RNA medicines like the Pfizer vaccine in Australia and this not only undermines our ability to tackle the COVID-19 crisis over the longer term, but it means we miss out on a new global industry estimated to be worth $5.5 billion in just three years' time.
That is why the first task of Labor's $15 billion National Reconstruction Fund will be to explore partnerships with key industry players, states and investors to deliver the latest mRNA vaccine and medicine manufacturing technology to our shores to grow jobs, boost our recovery and safeguard our health and security.
Labor's plan is about more than just a COVID-19 vaccination, it is about creating the advanced manufacturing industries that will power good new jobs and a stronger economy and provide an ongoing sovereign capability for decades to come.
mRNA vaccines and RNA medicine is state of the art technology, and with Labor's priority to manufacture this science here, we will have more promising, effective medications like flu vaccines, high blood pressure medications, statins and cancer treatments and vaccines.
We don't want to be caught off guard like this again. The COVID-19 pandemic has taught us we need to be a country which makes things, and the state of the art sovereign vaccine capability should be top of the list.
Under Labor, Australia won't be left behind. Under Scott Morrison, we already have been.
Labor has a plan for reconstruction that will rebuild Australia's manufacturing base, create good jobs and safeguard our health and prosperity.
