Anthony Albanese ‘lied to Australian people’ over $15bn fund

Anthony Albanese’s repeated claim that Labor’s marquee $15bn off-budget fund was ‘open for business’ has been exposed as false, according to internal documents.

Anthony Albanese’s repeated claim that ‘money was available’ to help Australian manufacturing businesses has been exposed as false.

Anthony Albanese’s repeated claim Labor’s marquee $15bn off-budget fund was “open for business” and “money was available” to help manufacturing businesses has been exposed as false, according to internal documents.

Documents obtained under Freedom of Information laws reveal the National Reconstruction Fund was not up and running in January, as the Prime Minister twice claimed in that month, with new correspondence confirming the investment vehicle’s guidelines were still being developed and no formal expression of interest process had been in place.

It comes after Mr Albanese was repeatedly asked how manufacturing businesses could apply for funding for the NRF in January. At the time, its website included a “what we do” page and a section ­titled “We’re just getting started”.

The Prime Minister then doubled down on this claim that the fund was open for business as he attacked the Liberals, saying they “seem to seem to be upset that there’s not an online form that you can fill in”.

“This isn’t an online form process as if you were applying for a packet of chips from the supermarket. This is a process in which over 160 companies have already engaged with the National Reconstruction Fund about the processes for funding.”

But according to internal correspondence dated January 24, almost two weeks after Mr Albanese claimed the NRF was open for business officials were still working on draft investment guidance and on a draft email to send to interested businesses setting out the fund’s guidelines.

New documents also reveal the NRF board did not sign off on an application process for funding or its official investment guidance until January 22.

Internal emails obtained by The Australian also confirm all businesses that had previously been in contact with the NRF inquiring about funding were forced to reapply by filling out the application process agreed by the board on January 22.

“For visibility we will be emailing those who have previously been in contact with us to share the new guidance,” the official said.

In addition, advisers from Industry Minister Ed Husic’s office asked NRF officials whether they could “expect a refresh of the ­website soon” and whether there were “any plans under way?” according to text messages obtained by The Australian.

Deputy Liberal leader Sussan Ley seized on the new documents saying Mr Albanese had been caught lying as she called for him to “put his hand up, take responsibility and acknowledge that he lied to the Australian people repeatedly about the National Reconstruction Fund”.

Ms Ley, who is also the opposition industry spokeswoman, said Australians deserved better, branding it “dysfunction of the highest order”.

“It took the efforts of the opposition and Australian journalists to force the Albanese government to establish an application process for their own manufacturing fund; in the middle of a national business insolvency crisis, that is unforgivable,” Ms Ley said.

A spokesman for Mr Husic said a “seeking investment” form was available on the NRF website from November 30 last year and that the fund had been in “ongoing ­discussions with a number of businesses about potential investments”.

The spokesman said the website went through a “refresh” in January when a number of processes were updated.

The NRF is now up and running, although it has not yet distributed any funds to businesses, with acting NRF chief executive Rebecca Manen telling Senate estimates last month “there have been no decisions taken in relation to investment inquiries”.

The new documents come after The Australian revealed almost 1650 manufacturing and construction businesses have plunged into insolvency in just six months, with thousands of jobs under threat as companies move offshore and shut operations in response to rising power prices, supply chain pressures and labour shortages.

The fund’s investment mandate was unveiled on November 30 despite its enabling legislation passing eight months earlier.