Australia targets manufacturing in A$1.5bn push to rebuild economy
Funding package is expected to be key pillar of budget next week as Australia seeks to break its reliance on Asia for the supply of essential goods
01 October 2020 - 19:01
Sydeny — Australia will spend A$1.5bn ($1bn) to revitalise manufacturing across six sectors, Prime Minister Scott Morrison said, as the government pushes to get the economy out of the deep slump triggered by the coronavirus pandemic.
The move to put manufacturing at the centre of a long-term recovery plan comes amid a realisation that Australia has been too reliant on Asia for the supply of essential goods. Sour relations with top trading partner, China, and the pandemic's impact on global supply chains have also strengthened that view...
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