Both houses of Australia's parliament have approved plans to create a A$15 billion ($10 billion) national reconstruction fund to support domestic manufacturing in industries of the future and reduce the country's reliance on imports.

The Australian Federal Government's A$15 billion National Renewal Fund (NRF) - aims to boost investment in onshore manufacturing, including the production of solar panels, batteries and hydrogen electrolyzers.
Federal Industry Minister Ed Husic said the fund was "one of the largest peacetime investments in Australia's manufacturing capacity". He claimed the legislation paved the way for increased high-value manufacturing and employment in Australia.
NRF will co-invest in projects in a range of strategic industries, including renewable energy and low-emission technologies, resource addition, agriculture, transportation, defense capabilities, and key technologies such as artificial intelligence and robotics.