{"id":8587,"date":"2020-10-07T22:29:53","date_gmt":"2020-10-07T22:29:53","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=8587"},"modified":"2020-10-07T22:29:53","modified_gmt":"2020-10-07T22:29:53","slug":"2020-21-budget-manufacturing-australias-future","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2020\/10\/07\/2020-21-budget-manufacturing-australias-future\/","title":{"rendered":"2020-21 Budget \u2013 Manufacturing Australia\u2019s Future"},"content":{"rendered":"

The Morrison Government is backing Australian manufacturing, as well as the science and research that underpins it, as part of our Economic Recovery Plan to lead the nation out of the COVID-19 crisis by creating the jobs needed now and for generations to come.
\nThe 2020-21 Budget includes an investment of $1.5 billion over four years for the\u00a0Modern Manufacturing Strategy<\/em>\u00a0to allow Australian manufacturers to scale up, compete internationally and create more jobs.
\nMinister for Industry, Science and Technology, Karen Andrews, said the investments highlight the Government\u2019s commitment to making science and technology work for industry, which is a key pillar of the\u00a0Modern Manufacturing Strategy<\/em>.
\n\u201cA resilient and competitive manufacturing sector should be at the heart of a modern Australian economy and this Strategy will create jobs, drive our economy forward and make Australia more secure.\u201d
\n\u201cWhen you combine our new Modern Manufacturing Strategy with the increased funding for the CSIRO, you have a powerful base from which to turbo-charge job creation,\u201d Minister Andrews said.
\nThe centrepiece of the\u00a0Modern Manufacturing Strategy<\/em>\u00a0is the $1.3 billion\u00a0Modern Manufacturing Initiative<\/em>, which will see the Government strategically invest in projects that help manufacturers to scale up and create jobs.
\n\u201cWe are putting our money where our mouth is, to galvanise investment in Australian manufacturing,\u201d Minister Andrews said.
\nThe\u00a0Modern Manufacturing Initiative<\/em>\u00a0will support projects within six National Manufacturing Priorities: resources technology and critical minerals processing, food and beverage, medical products, recycling and clean energy, defence, and space.
\nIndustry will be engaged to help develop tailored road maps for each of the priority sectors.
\nThe Strategy will also address the competitiveness of individual manufacturers in our priority sectors, with a $52.8 million expansion of the\u00a0Manufacturing Modernisation Fund.<\/em>
\nEarlier this year the Government invested $48.3 million to support around 200 projects worth $215 million, which are expected to create 2,600 jobs.
\nThe COVID-19 crisis has also highlighted supply chain issues and opportunities. A $107.2 million\u00a0Supply Chain Resilience Initiative<\/em>\u00a0will support projects that address an identified supply chain vulnerability.
\nThe Budget also includes an additional $459.2 million in funding for the Commonwealth Scientific and Industrial Research Organisation (CSIRO) over four years to address the impacts of COVID-19 on its commercial activities and ensure it is able to continue essential scientific research.
\nThe 2020-21 Budget also includes measures to support the goal of Australia becoming a leading digital economy by 2030, with $29.7 million to help Australian businesses better use digital tools to readjust their operations and processes in a post-COVID economy.
\nThis investment will accelerate the adoption of digital technologies by businesses, create jobs in sectors with high potential for growth, support the use of technology to make business regulatory compliance easier, and boost Australia\u2019s influence over the development and deployment of digital standards.
\nThe Government is committed to realising the potential of women in science, technology, engineering and mathematics (STEM). The Budget includes:<\/p>\n