Future Made In Australia Act Passes Lower House

Published on September 9, 2024

Australia’s version of Biden’s Inflation Reduction Act has passed the House of Representatives two months after it was introduced. On Sept. 9, Treasurer Jim Chalmers touted Labor’s $22.7 billion (US$15 billion) Future Made in Australia legislation as a major step forward in “making the Australian economy more prosperous and resilient” amid the net zero transition. “This legislation will allow us to unlock private sector investment to build a stronger, more diversified and more resilient economy powered by renewable energy that creates secure, well-paid jobs around the country,” he said in a statement. “It embeds into law a disciplined and rigorous approach that will govern Future Made in Australia investments, to make the most of our net zero potential and ensure the benefits of these investments are widely shared and flow to local communities.”...

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