EXCLUSIVE: Australia on Brink of Industrial Collapse – But PM Albanese’s Bold Plan to Revive Manufacturing Could Be the Country’s Last Hope
- Australia’s manufacturing sector has shrunk to a quarter of its 1960 size, sparking warnings of a national security crisis
- PM Anthony Albanese has vowed to restore the industry to its former glory, backed by business titans like Andrew “Twiggy” Forrest and Dick Smith
- The “Back Australia” campaign aims to create a new industrial revolution, with a focus on cutting-edge tech and reducing reliance on imports
In a shocking revelation, Australia’s manufacturing sector has been left on life support, with the latest figures showing it has shrunk to a staggering 5.9 per cent of the national GDP – a far cry from its 1960 peak of 29 per cent. The alarming decline has sparked warnings of a national security crisis, with experts warning that the country’s reliance on imports is leaving it vulnerable to global shocks.
But in a bold bid to revive the industry, Prime Minister Anthony Albanese has vowed to make Australia a manufacturing powerhouse once again. The PM has joined forces with some of the country’s biggest and most trusted companies, including Westpac, Coles, and Bunnings, to launch the “Back Australia” campaign.
“Australia needs to be a nation that makes things,” Mr Albanese told this masthead. “We were a manufacturing powerhouse before and we can be again. We have the best and brightest businesses in the world and we need to ensure they reach their full potential.”
Business guru Tony Shepherd, who led the NSW Modern Manufacturing Taskforce, has welcomed the initiative, but warned that the current situation is “very dire”. “You can honestly say that manufacturing is dying, and this has serious economic and strategic implications,” he said.
Meanwhile, industry figures have highlighted the vital need for Australia to seize the initiative in new fields such as quantum computing, where the country is a global leader. The world’s first commercially useful quantum computer is set to be built in Australia, with engineers saying it will spark a new industrial revolution and rewrite the balance of global power.
PsiQuantum Australia chief technical director Geoff Pryde, who is overseeing the construction of the new supercomputer, said: “The Back Australia campaign understands something essential: Power in the 21st century comes from advanced manufacturing capability. Not just from software, but also from making real things.”
As the country teeters on the brink of industrial collapse, the “Back Australia” campaign offers a glimmer of hope. But with the clock ticking, can the PM’s bold plan revive the manufacturing sector and secure Australia’s future?