Just days away from the 2024 federal budget, industry minister Ed Husic has said the Illawarra should be in the "driver's seat" when it comes to the government's signature economic policy.
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Visiting Port Kembla electrolyser manufacturer Hysata on Friday, May 10, after the start-up announced Australia's largest clean tech series B fundraising round, securing $172 million in investment, Mr Husic said the Illawarra was central to the government's clean manufacturing ambitions.
"We want regions like the Illawarra to be in the driver's seat, and you're seeing it here with Hysata," he said.
In the lead up to the federal budget, the government has made a number of major funding announcements for local manufacturing, including a billion dollars for solar panel manufacturing in the hunter and nearly $1 billion to build the world's first quantum computer in Queensland.
Mr Husic said there could be additional support for local manufacturing, including in the Illawarra, when the papers are released on Tuesday evening.
"You'll see a number of announcements across a range of areas that are important in terms of transitioning to net zero."
Local member Alison Byrnes said the government's contribution to Hysata's capital raise, which included $15m from the Clean Energy Finance Corporation, was the "first step" in additional support for domestic manufacturing in the Illawarra.
"Seeing that $15 million on top of a previous $30 million to Hysata to help them in their bid to manufacture some of the world's most efficient hydrogen electrolysers is really important, and a great first step in the lead up to the budget next week."
In the lead up to the budget, the federal government has announced more than $4 million for upgrades to facilities at Barrack Heights Public School and Warrawong High School.
Ms Byrnes said the government's changes to HECS indexation and the write down of student debts was also being felt locally.
"Last year, the very high CPI rate was a big hit to local students and local young people particularly," she said.
Next week's budget will also include changes to the stage three tax cuts, which will reduce the tax burden for workers earning above the tax free threshold of $18,200.
Student teachers, nurses, midwives and social workers will receive $320 a week during mandatory work placements from July 2025. There will also be a $90.6m boost for skilled workers in the construction and housing sector through fee-free TAFE places and pre-apprenticeships.
The budget papers will also include funding for the extension of the leaving violence payment and superannuation payments of 12 per cent on publicly funded paid parental leave.
