The Australian Workers’ Union (AWU) has welcomed the passing of the Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024, describing it as a significant milestone in advancing Australia’s role in green hydrogen and critical minerals processing.
The legislation introduces production tax credits designed to drive private investment in emerging industries that are expected to shape the nation’s economic and strategic future.
AWU National Secretary Paul Farrow said the Bill addresses longstanding challenges in Australia’s industrial landscape, shifting the country’s focus from raw material exports to domestic processing and manufacturing.
“Australia’s approach to critical minerals and new energy has been constrained by a ‘dig and ship’ mentality, and this Bill tips that on its head,” Farrow said.
“It finally provides what industry has been calling for—investment certainty that will allow us to build domestic capabilities, create high-quality jobs, and ensure Australian workers benefit from the global industrial transition.”
The legislation also includes “community benefit rules,” which Farrow said would ensure that the jobs created are well-paid and secure.
He argued that the Bill positions Australia to play a more significant role in global supply chains, particularly as demand for green hydrogen, green steel, and green aluminium grows.
However, the Bill has not received universal support. The Coalition voted against the legislation, a decision Farrow criticised as a missed opportunity for the country’s industrial future.
He argued that opposition to the Bill aligns with what he described as a broader reluctance to support policies aimed at strengthening domestic manufacturing.
“At a time when the world is racing ahead in clean energy and critical minerals investment, the Coalition would rather Australia sit on the sidelines,” he said.
Despite the political divide, the AWU said it would focus on ensuring the legislation delivers on its promise, with Farrow stating that the union would work with industry and government to maximise the Bill’s impact on job creation and economic development.
