Anthony Albanese reveals his bold plan for the future of Australia’s economy

The future of Australia and its economy depends on locally manufactured resources in the hands of our own workers, the Prime Minister says.

Anthony Albanese will unveil the Future Made in Australia Act on Thursday when he addresses the Media Club of Queensland.

“Our challenge and our great opportunity lies in anticipating change, shaping it and ensuring it works for our people,” he will say.

“And doing it our way, uniquely Australian.”

Albanese says green energy is the answer to competing on a global stage.

Hydrogen, green metals, solar energy, emerging renewable sources and technologies form the future of the country.

The aim of the plan is to boost investment in Australia’s green resources, create more jobs and build a strong, competitive economy.

As Australia moves towards its goal of net zero emissions by 2050, it means moving away from old reliable energy sources, such as coal and gas, that have dominated and sustained several communities for decades.

But Albanese acknowledges that change won’t happen overnight.

“This is about giving Australian businesses, Australian communities and the Australian people every opportunity possible to benefit from this moment,” he will say.

Queensland will be at the forefront of the transition with the development of pumped hydro plants, wind farms, solar energy and hydrogen manufacturing.

Albanese compares the new era and the push toward new energy resources and jobs to the industrial or information revolution, but bigger.

“It’s not about ideology, but about opportunity and urgency,” he will say.

To deliver the green energy revolution, investment will be needed in a range of other aspects of Australian life, including education, housing, care, tourism and agriculture.

The government says it is seeking greater investment incentives to fuel the fire of clean energy manufacturing and renew Australia’s ownership of its resources.

Albanese will say that to achieve this vision, government needs to evolve to be more strategic, sophisticated and constructive.

It will mean the government considers new trading partners in addition to traditional allies such as the United States and the United Kingdom to expand the import and export of different products in emerging markets.

“We need to be willing to break with old orthodoxies and pull new levers to advance the national interest,” he will say.

The speech comes a month before Treasurer Jim Chalmers delivers the budget.