Jim Chalmers delivers the 2024 budget. Some light was shed on the Future Made in Australia project, but details of the act remain obscure.Jim Chalmers delivers the 2024 budget. Some light was shed on the Future Made in Australia project, but details of the act remain obscure.and “glossy” overview brochure laid bare the budget’s intent to deliver “Cost of living help & a future made in Australia”.
Budget paper No 1 justifies the government backing of private projects like this: “In certain circumstances, targeted public investment can strengthen the alignment of economic incentives with Australia’s national interests and incentivise private investment at scale to develop priority industries.” Also bundled into the mix is regional support such as the $519.1m Future Drought Fund over eight years. Perhaps that’s a nod to the future of a more volatile global climate that as one of the world’s largest fossil fuel exports Australia has helped to make.What counts as a FMIA project was not entirely clear before Tuesday’s budget.