Labor’s $15bn manufacturing fund aimed at bridging party divide on resources

Labor’s supposedly signature policy proposal at its National Conference is designed to “head off the debate” between coal and climate within ALP ranks, according to political consultant Jim Middleton. Labor leader Anthony Albanese on Tuesday unveiled the party’s $15 billion manufacturing reconstruction fund which he claimed would ensure Australia can adequately support itself. Mr Middleton said the proposition is an attempt by the Labor Party to “trump” the government’s Modern Manufacturing Initiative and the Clean Energy Finance Corporation which Mr Albanese’s proposition will be based off. The fund will be managed by a board which will determine where the $15 billion will be invested, much in the same way as the Clean Energy Finance Corporation. The Clean Energy Finance Corporation is currently “making money” and “boosting renewables,” which the Labor Party sees as an important part of their platform and strategy to defeat the Morrison government. Via news.com.au — Australia’s leading news site https://www.news.com.au