We support the establishment of the National Reconstruction Fund. The establishment of the $15 billion fund will be an important step towards diversifying and transforming Australia’s industries and economy.
This submission sets out the key principles that must guide investments made by the fund. The fund must enable and leverage private investment, and encourage tripartite investments from industry, academia, and government. This will be the only way to ensure the durable and lasting change that needs to happen at scale in the economy.
To deliver on this, we recommend the Investment Mandate require the fund to make investments where it will develop and support internationally significant precincts, support industry and academic consortia bringing forward joint proposals, and providing a ‘brokering service’ for proponents and other investment bodies.