A Coalition government would amalgamate private investment facilitation functions into a new body with “call in” powers to scrutinise hold ups, shadow treasurer Angus Taylor announced on Wednesday as part of less interventionist industry policy.
The promised Investment Australia would be tasked with leading a new “pro business” mindset across the public service, Mr Taylor said, to speed up approvals and create new pathways for stalled projects.
The speed will bring down costs and drive new private industries like artificial intelligence, quantum computing and space, the shadow treasurer claimed, while promising to unwind government subsidies for manufacturers.
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