Australia is investing billions of dollars through its Future Made in Australia plan to strengthen the economy and build industries that can succeed in a rapidly changing global landscape.
The plan includes Community Benefit Principles, designed to ensure investment supports local workers, businesses and communities.
As part of the public consultation on draft guidance for the Community Benefit Principles, CPD made a submission to the Department of Industry, Science and Resources. It draws heavily on our Sharing the Benefits report, which proposed a framework for applying the Community Benefit Principles when allocating public funding.
The submission makes seven recommendations across four key areas that aim to ensure that public support provided under the Future Made in Australia is used effectively to deliver tangible, long-term benefits to communities.
Whether it’s good jobs for local workers, procuring from local businesses, providing skills and training to local communities, or investing in local infrastructure—businesses and industries receiving government funding have a responsibility to ensure that funding is used to help communities thrive now and into the future.
CPD’s submission aims to ensure that public support provided under Future Made in Australia is used effectively to strengthen local workforces, businesses and communities.
The Future Made in Australia (FMIA) legislation includes five high-level Community Benefit Principles that it says should be considered when determining whether a project should be eligible for public support. The principles are:
The government still has to decide how to implement these principles – what specific requirements it will impose on firms that receive support through Future Made in Australia policies.
This question of detailed implementation design is the subject of CPD’s submission. The submission makes seven recommendations across four key areas that are designed to ensure the Community Benefit Principles are not just used as a guide, but can effectively and practically deliver tangible, long-term benefits for communities:
Australia’s economy is undergoing rapid industrial change, as we seek to decarbonise and remain competitive in a changing global environment. Many communities feel they are being asked to shoulder the costs of the transition without having a real say or seeing any tangible benefits.
Our recommendations, if implemented, will ensure the government delivers on the promise of the Community Benefit Principles, so that the returns from significant public investment flow to local workers, industries, and communities—revitalising regions and creating a brighter future for those most affected by the energy transition and a changing economy.
