The Rudd Labor Government has announced key policies it believes will create extra jobs in anticipation of a declining mining investment boom. Underpinning the newly announced policies is an acknowledgement that Australia 'must expand and diversify its economy' to ensure it can tackle the economic challenges of the future.
The Rudd Labor Government has committed to maximising Australian industry’s participation in major investment projects. In support of this, the Federal Government has already passed the Australian Jobs Act earlier this year.
The Jobs Act, which mandates that all projects over $500 million complete an Australian Industry Participation (AIP) plan, is part of Labor's goal to ensure that Australian industry has an opportunity to supply key investment projects.
As a result of Labor's plan, these projects will no longer use global supply chains by default or lock local businesses out of work on major projects.
The Jobs Act is estimated to bring in between $1.6 and $6.4 billion of extra work to Australian industry which Labor claims will be crucial to creating more local jobs.
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