Subsidies Under the Future Made in Australia Act Could Continue Forever: Productivity Commission

Published on April 12, 2024

Productivity Commission chair Danielle Wood has cautioned that subsidies established under the Future Made in Australia Act, announced by the Prime Minister on April 11, could continue forever without a well-defined exit strategy. She said that clearly, the government is responding to significant global changes, shifts in geopolitics, and the pressure to decarbonise economies. “But … we shouldn’t pretend … that this is going to be costless,” she told The Australian Financial Review. She emphasised that supporting industries lacking long-term competitive advantages may lead to ongoing expenses, diverting resources from sectors with greater potential for value generation. “We risk creating a class of businesses that is reliant on government subsidies, and that can be very effective in coming back for more,” she added....

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