Canberra wants Tomago saved – just not all on its dime
Australia needs to avoid indulging in political slush funds dressed up as “industrial policy” and pivot towards a smarter, future-looking strategy.
The split over a Tomago smelter bailout exposes a deepening friction: the Albanese government’s eagerness to offload some of the cost of its “Future Made in Australia” industry policy ambitions onto a NSW government with competing budgetary constraints.
The government announced it would contribute half of a $2 billion subsidy package for Rio’s Boyne aluminium smelter in Central Queensland, with the Queensland government providing the other $1 billion to prop up the facility until 2040.
