Joint media release with Minister for Finance, Senator Katy Gallagher
The Albanese Government's bill to deliver one of the largest peacetime investments in Australian industry and Australian manufacturing has today passed the House of Representatives.
The National Reconstruction Fund (NRF) Corporation Bill will establish the NRF which will help create secure, high paying jobs for workers across the country, including in the regions, outer suburbs and remote communities.
The NRF will invest $15 billion across priority areas of the economy including renewables and low emissions technologies, medical science, transport, value-adding in resources, value-adding in agriculture, forestry and fisheries, defence capability and enabling technologies.
It will also help address the inflation challenge in the economy by reducing our dependence on broken supply chains.
Minister for Industry and Science Ed Husic said the NRF will rebuild Australia's industrial capability and support long-term sustainable economic growth.
The NRF will be administered at arm's length to Government by an independent board making independent investment decisions.
