We are producing an ongoing series of papers intended to bring forward for public discussion urgent issues concerning Australia’s future economic structure and development that are inseparable from other society wide challenges, including our capacity to positively respond to climate change.
Critical to meeting these challenges are industrial policies aimed at providing direction and leadership to the development of the nation’s economic structure. Such policies increase our self-sufficiency, making us less vulnerable to decisions by external trading partners committed to climate and other actions. Australia stands to benefit economically from climate action, but achieving those benefits depends upon economic leadership.
For the past decade Australia has lacked even the semblance of a national industrial policy or strategy. Recent developments nationally and at the state level (including South Australia) indicate greater ambition and a change of course. Including two recent significant policy initiatives: the Federal Government’s National Reconstruction Fund, and the South Australian Government’s SA Hydrogen Jobs Plan.
The first paper in this series, Manufacturing Transformation: High-value manufacturing for the 21st Century canvassed a range of key issues in Australia’s reindustrialisation, whilst the second Innovation Procurement concerned advanced public procurement practices for innovation and industrial development. The third report, The Circular Economy, proposes the application of Circular Economy principles as part of a national strategy of reindustrialisation and decarbonisation. Exactly what is meant by sovereign capability and how it is measured is contested. Australian Sovereign Capability and Supply Chain Resilience addresses this reality and the need to progress towards an agreed definition to guide policy development and practice.
We hope these papers stimulate discussion in support of ambitious industrial policy for Australia’s future.
