Commonwealth Numbered Acts

FUTURE MADE IN AUSTRALIA ACT 2024 (NO. 119, 2024) - SECT 7

  (1)   The National Interest Framework is established by this section.

  (2)   The National Interest Framework has the following streams:

  (a)   the net zero transformation stream;

  (b)   the economic resilience and security stream.

The net zero transformation stream

  (3)   A sector of the Australian economy aligns with the National Interest Framework in the net zero transformation stream if:

  (a)   the sector could have a sustained comparative advantage in a net zero global economy; and

  (b)   public investment is likely to be needed for the sector to make a significant contribution to emissions reduction at an efficient cost.

The economic resilience and security stream

  (4)   A sector of the Australian economy aligns with the National Interest Framework in the economic resilience and security stream if:

  (a)   some level of domestic capability in the sector is a necessary or efficient way to deliver economic resilience and security; and

  (b)   the private sector will not deliver the necessary investment in the sector in the absence of government support.