Election 2022: Agenda ‘is tied to industry kick-start’

Labor deputy Richard Marles has said the government’s agenda will be geared around revitalising Australian industry.

Acting PM Richard Marles. Picture: AFP

Labor deputy Richard Marles has said the government’s agenda will be geared around revitalising Australian industry as the nation emerges from the pandemic and the ­attempt to build a more modern economy.

Speaking on Sky News, the Deputy Prime Minister said he talked with Anthony Albanese 15 months ago about the importance of ensuring the party “had an agenda coming into the election … about how we build an economy for the country’s ­future”.

“There was a lot of challenges in respect of that. Now we really do need to revitalise Australian industry,” he said.

“After nine years of the ­Coalition, Australia now ranks dead last in manufacturing capability. We need to climb the technological ladder and become a modern country.

“After nine years of the ­Coalition government on the Harvard Index of Economic Complexity, Australia is now ranked 86th – we are ranked ­between Uzbekistan and ­Paraguay.”

Mr Marles said Labor’s $15bn National Reconstruction Fund, aimed at driving investment in projects that could help build ­future prosperity, would play a key role in revitalising Australian industry along with Labor’s plan for 465,000 fee-free TAFE places.

“That’s actually how we get productivity going and how we get wages going,” he said.

Jim Chalmers also said Labor was aiming to ensure its investments delivered a “generational dividend” for younger Australians, given they would be bearing the brunt of the task of repaying the debt in coming ­decades.

“It will take generations to pay off the debt that the Liberals have racked up,” the Treasurer told ABC radio.

“So we need to make sure that there’s a generational dividend for that debt and that means ­responsible investments in areas like cleaner and cheaper energy, making childcare cheaper, strengthening Medicare, investing in a future made in Australia, TAFE and training so we can ­address skills shortages.

“And all of those key elements of our economic plan.”

Pressed on his October ­budget, Dr Chalmers said he had ­already started trying to find ­further budget improvements but no government could “click their fingers and all of a sudden make a trillion dollars of debt ­disappear.”

Dr Chalmers said Labor had already found $11.5bn in budget improvements, but was hopeful further improvements could be made. “But what I would like to do is I would like to engage the public in a conversation about these big economic challenges.”

Dr Chalmers said Labor could do something about the cost of living, including making access to Medicare and childcare cheaper, reducing power prices and advocating for an increase to the minimum wage.