Budget October 2022-23

Our portfolio plays an important role in building a better future for all Australians.

We will help to deliver on the government’s agenda by:

  • supporting a strong and resilient resources sector
  • accelerating the growth of Australia’s critical minerals sector and supporting new clean-energy technologies
  • transforming and diversifying Australia’s industry and economy 
  • stimulating regional manufacturing 
  • supporting businesses to create sustainable, high-value jobs
  • boosting Australia’s science and research capability
  • attracting and retaining a pipeline of Australian STEM talent
  • diversifying global supply chains and improving Australia’s export resilience.

Key measures 

Manufacturing and industry 

The government is investing $50 million over 2 years to establish the $15 billion National Reconstruction Fund

Our department will be implementing a range of other initiatives to back local manufacturing and rebuild Australia’s industrial base, including:

  • $111.2 million to boost local manufacturing through targeted industry grants to benefit predominantly regional communities
  • $14.2 million to implement the National Rail Manufacturing Plan to stimulate the Australian rail industry by ensuring more trains are built locally
  • $6.1 million to enable Ethical Clothing Australia to support an industry-led campaign to help consumers choose ethically-sourced Australian textile, clothing and footwear products, and to help protect vulnerable workers
  • $1.6 million to work with the seafood and hospitality sectors to develop mandatory Country of Origin Labelling for seafood in hospitality that will help consumers know if the seafood they order is Australian.

Science and technology 

The Budget delivers a series of initiatives to widen the pipeline of talent available to the science and technology sectors, including:

  • $13.5 million to enhance government’s access to expert advice on critical technologies 
  • $10.3 million for Australia to host the International Science Council Regional Presence for Asia and the Pacific, supporting development of Australian science policy and building our capabilities
  • $10 million to extend Questacon’s delivery of its outreach programs to engage young Australians and science teachers in science, technology, engineering and mathematics (STEM)
  • $4.8 million over 4 years to create a pipeline of quantum skills to support economic growth and help secure our sovereign capabilities
  • $2.9 million to improve the provision of important science and technology advice to government and to support the delivery of the 2022 Prime Minister’s Prizes for Science
  • $5.8 million to support diversity in STEM including:
    • $4.7 million for additional community and industry-led projects in the Women in STEM and Entrepreneurship program
    • $1.1 million to support an independent review into existing government science and technology programs and how they can be reformed to support greater diversity.

Resources and critical minerals

The Budget includes a range of new initiatives to strengthen Australia’s resilience and invest in supply chains for critical minerals and resources, including:

  • $99.8 million in tailored grants to support the development of the critical minerals industry
  • $50.5 million to establish the Australian Critical Minerals Research and Development Hub
  • $40.9 million over 8 years for our department to implement reforms to the Australian Domestic Gas Security Mechanism to better respond to forecast gas shortfalls
  • $10 million to fund research, development and demonstration projects for commercial methane abatement in the resources sector
  • $2 million to support the establishment of a Resources Centre of Excellence Hub, to provide mine workers and resources communities with training and access to new technologies.