Assistant Manufacturing minister Tim Ayres has fired back at critics of the Future Made in Australia agenda that seized on a Productivity Commission report casting doubt on nearly $23 billion of industry intervention.
The PC’s newest research finds pouring taxpayer funds into industries to create or build comparative advantage is risky and that poorly designed policy or a lack of discipline would lead to “a new form of trade protectionism”.
The warning comes as the major parties increasingly diverge on industry policy, setting up a starker choice at the next election.
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