When the Prime Minister talks about ‘Future Made in Australia,’ he really means unworkable renewable projects made in Australia but owned by mostly foreign multinational corporations. There’s no national pride in this; it’s simply a cash cow for the PM’s renewables mates.  The money is election fairy floss and not much more. 

In this speech, I highlight projects that are genuinely made in Australia and involve mostly Australian companies and will grow the wealth and prosperity of our beautiful country. This includes the Iron Boomerang project, which will create a rail crossing across the top end, benefiting Aboriginal communities, grazing, and mining. It will also drive the Capricornia steel project at Port Hedland and Abbot Point, which will generate 40,000 breadwinner jobs, add $100 billion to our GDP and contribute $25 billion in government revenue. 

One Nation builds, while the Albanese Government delivers press releases. 

Transcript

The Future Made in Australia Bill 2024 provides a legislative framework for parts of the government ‘s Future Made in Australia policy. This provides for an investment of $22.7 billion over the next 10 years to ‘help Australia become an indispensable part of the global economy as the world transforms to net zero emissions and undergoes the most significant changes since the industrial revolution’. The government talks about maximising the economic and industrial benefits of the move to net zero and securing Australia’s place in a changing global economic and strategic landscape. Specifically, the following claim is made by the government: 

Given our critical and abundant natural endowments and skilled workforce, Australia is well positioned to strengthen priority supply chains and become an indispensable part of the net zero global economy. 

One Nation are big supporters of the first part of that statement. Australia is blessed with abundant and substantial mineral resources, and it’s our obligation to share those with the world so other countries can enjoy the standard of living we have. That is, we used to have it. Now our economy is in a race to the bottom, with the Greens, teals and Labor in a race to see how many wealth-generating projects they can shut down. 

The Future Made in Australia agenda includes broader investments in the government’s growth agenda, including critical technologies, defence priorities, skills in priority sectors, a competitive business environment and reforms to better attract and deploy investment—in particular, projects where some level of domestic capability is necessary for efficient delivery of economic resilience and security and the private sector will not deliver the necessary investment in the sector in the absence of government support. That’s an important point. I have been working with the project sponsor of Capricorn Steel, a steel park project in northern Queensland, which I will speak more often a moment. This project, known also as Project Iron Boomerang, includes a railway, port and new energy efficient ships. This is a $50 billion project, initially, which is to be entirely financed through private equity, who have the money ready to go but will not commit it, because they don’t trust the Australian government. After watching a litany of cancelled projects—like Adani, where a billionaire from India wanted to invest $17 billion in Australia, and we did our best as a country and as the state of Queensland to keep him out—long legal delays and general incompetence, financiers are taking their money elsewhere. 

This is why the government is now creating an investment pathway to get things built again. It’s the government or nothing. The prime function of the government is to build infrastructure projects that allow private enterprise to grow the economy and raise the wealth and prosperity of all Australians; to improve productivity in a way that protects the natural environment. This bill adds a layer on top, which is that the development must be net zero friendly. 

One Nation doesn’t believe in the United Nations’ globalist net zero agenda. There is no empirical scientific data, no logical scientific points and no policy basis. We’ve seen that repeatedly. We believe it involves a massive transfer of wealth from everyday citizens into the pockets of the world’s predatory billionaires—billionaire parasites sucking solar and wind subsidies. It forms a highly regressive tax on the poor using electricity. We wonder when the Left signed on to a crony capitalist agenda that hurts everyday Australians for no environmental benefit. That’s a separate issue. One Nation does agree the national environment should be protected. We are stewards of the most fragile ecosystem in the world, and we must act with care. This bill doesn’t actually mention good stewardship of the natural environment, but it’s okay; One Nation does that as part of our core party values. 

The Future Made in Australia policy includes the following broad stated aims: firstly, attracting investment in key industries through the national investment framework, streamlining approval processes for investment and encouraging private sector investment in sustainable industries; secondly, investing in net zero industries and increasing the demand for Australia’s green exports; thirdly, strengthening resources and economic security by investing in resources and critical mineral supply chains, as well as investing in manufacturing of clean energy technology; and fourthly, investing in new technologies and capabilities, reforming tertiary education, providing a training and skills pipeline for Future Made in Australia priority industries, strengthening defence capability and increasing drought and disaster resilience, among other things. 

The bill establishes the National Interest Framework, to be used for sector assessments which will determine which sectors of the economy are ones in which Australia could have a competitive advantage in a net zero economy and that require government investment, or where some degree of domestic capacity is required for the economic resilience and security. The government’s stated guidelines in this section include a community benefit test which includes promoting safe, secure and well-paid work; developing skilled and inclusive workforces; working with communities to achieve positive outcomes, in particular First Nations communities and those affected by the transition to net zero; and strengthening domestic industrial capabilities, including local supply chains. This sounds like socialism—government wanting to control. 

One Nation agrees with the intent. In particular, the industrial and mining sectors are being hollowed out through net zero measures to the detriment of the workers, unionists and their families. If the government is telling the truth, they will be able to rectify what they’ve already done in hollowing out the bush and the mining and manufacturing. Otherwise, fine Australian workers will join the tent cities that have sprung up under this Labor government. It should be pointed out that local supply chains are in fact part of the United Nations 2030 sustainability goals. It is more commonly called short supply chains. This goal encourages local supply of all goods and services, especially food. This may seem fine until you realise that, under this goal, anything which can’t be supplied locally will not be available at all. That’s the design. Except it will be available to the nomenklatura who can afford the carbon dioxide tax on long supply chains. If Australians want to live in a world that even vaguely resembles the world we grew up in, then local manufacturing is essential. 

This bill seems to represent a newfound realisation by the Albanese Labor government that their union bosses and union members are running out of jobs, the economy is tanking and the next election is moving way out of reach. One Nation can get on board with making things here again. We can’t, though, get on board with all the net zero nonsense in this bill. The bill is written generally, allowing the minister wide powers to completely stuff things up. I don’t see this as any different to the general stuffing-up the Albanese government is already doing. Giving it more ways to make mistakes seems like a bad idea. 

The bill has some good qualities. The economic resilience and security stream relates to sectors where Australia requires a degree of domestic capacity and resilience for domestic, economic or security reasons, and there’s an absence of private sector investment with that government support. The provisions around this section are quite extensive and seem to be a genuine attempt to provide for Australia’s sovereign industrial capacity—without using the word ‘sovereign’, of course! 

Let me give you an example of a project that fits the economic resilience and security rules like a glove and provides breadwinner, family friendly, secure jobs for tens of thousands of Australians. Capricorn Steel is a project to create an Australian steel industry using new, zero-emission steel plants located at Abbot Point near Townsville and Port Hedland in Western Australia. Boomerang ships would take beautiful Queensland coking coal around to Port Hedland in Western Australia, where it’ll be used with their iron ore to produce Australian steel. This will be the world’s highest-quality steel, produced at 10 to 15 per cent less than China—the cheapest quality steel in the world. 

From Port Hedland this steel can be exported to markets in the subcontinent—India and Europe. The development crescent of India, Pakistan, Bangladesh and Indonesia will become the world’s largest steel market over the next 20 years; Australia is perfectly placed to capitalise on that. Those ships will return to the Port of Gladstone carrying iron ore which will be combined with Australian coking coal to create a second steel park at Abbot Point. From there, Inland Rail can take this steel anywhere in Australia to help meet Australia’s steel needs—steel that is critical to net zero, housing, construction and our modern lifestyle, steel that is critical to Australia’s defence capability. Abbot Point, or the Port of Gladstone, is perfectly situated to export this steel to Asia, China and the United States. 

Development of a railway across the Top End to open up areas currently served by road as well as new port facilities and new high-efficiency shipping are all projects that satisfy the development criteria in this bill—plus a water pipeline, plus a communications link to open up Central Australia and northern Queensland, the Northern Territory and northern Western Australia. Capricorn Steel and Project Iron Boomerang will add $100 billion to Australia’s gross domestic product, provide 40,000 secure breadwinner jobs and provide $25 billion in government revenue every year. Capricorn Steel will be emission free, for those who believe this global warming nonsense. Every ton of steel produced in the zero-emission steel plants to be constructed at Port Hedland and Abbot Point will save two tonnes of carbon dioxide from steel produced elsewhere. That’s a reduction in carbon dioxide production of 88 million tonnes a year. 

There is no net zero without steel. Yet all the messaging coming from the government around this bill is nothing but net zero, which is nonsense. I get it: even net zero carpetbaggers are running out of interest in this failed net zero scam, so the government has to steal taxpayers’ money to keep net zero going. 

One Nation has no confidence this bill will achieve anything positive for Australia. If the government wants to move the provisions around economic resilience and security into a new bill, with Infrastructure Australia in charge, One Nation would be delighted to support those measures.