section_path: Prime Minister of Australia (2022–present)/Domestic affairs/Manufacturing
section_name: Manufacturing
paragraph_text: Manufacturing
  
  In March 2023, Parliament passed the government's National Reconstruction Fund (NRF), a $15 billion investment fund for the manufacturing sector designed to increase manufacturing capability. In November 2024, the NRF made its first investment, a $40 million grant to a Queensland-based mining equipment company. In April 2024, Albanese announced a major industrial policy called Future Made in Australia, which seeks to promote Australian manufacturing in sustainable energy. Future Made in Australia has been likened to the United States' Inflation Reduction Act and the European Green Deal.
  
  As part of the policy, the government's third budget contained $22.7 billion over a decade in support of domestic green hydrogen, solar-panel manufacturing, and mining of critical minerals. This includes a $1 billion "Solar Sunshot" program to support solar panel manufacturing in Australia, and a $566 million "Resourcing Australia's Prosperity" initiative for geomapping for mining resources. In July 2024, his government introduced legislation to give further effect to the policy, which passed the Parliament in November 2024.