Last night’s Federal Budget announcement will see significant steps forward in key areas of EV, future fuels and manufacturing. The policy was an important one for the Australian Caravan Industry.
As we put the finishing touches on our EV and future fuels submission paper, the future fuels policy state took a major step forward in last night’s Federal Budget. Delivering on most of their pre-election commitments the government has not shied away from transitioning to a future fuels and low emissions environment.
The Government’s long-declared low-emissions public policy commitments were all funded, including its $20bn Powering Australia plan, and its ‘generational and economic imperative’ to act on climate change.
The Powering Australia policy includes electric charging and hydrogen fuelling on our highways with funding for roadside hydrogen and electric vehicle charging. As part of the rollout, we will see charging stations established in 117 sites along Australia’s highway. In collaboration with EV charging, hydrogen fuelling sites will be established in key sites along major freight routes. Accompanying the spend on infrastructure was also levels of fringe benefit tax exemptions for eligible electric cars.
The budget allocations have set the scene for what will prove to be a mixed energy state – electrified and hydrogen, what the final mix looks like will take some time to tell.
National Reconstruction Fund
The much talked about National Reconstruction Fund was announced last night to great anticipation of industry. A major piece of the puzzle to help drive Australia’s growth on the economic complexity index, the measure of a country’s productivity diversity.
The $15bn National Reconstruction is aimed at bringing about a shot of productivity and diversity to Australia’s manufacturing sectors. Much of the approach thus far has been largely directed at medical manufacturing, digital and tech solutions. We are working hard to expand on what innovation looks like when the need to innovate and diversify is of national importance.
We have and will continue to work with the Minister and the department on how the fund can be used to not only protect Australia’s last sovereign vehicle manufacturing industry, but ensure it remains at the forefront of innovation and quality.
The low emissions environment provides industry an opportunity to work with government on what the next horizon of solutions looks like, how they interact with infrastructure and the processes that drive them.