You are currently viewing Scott Morrison to unveil $108.5m defense industry plan, Labor pledges to cut inflation

Scott Morrison to unveil $108.5m defense industry plan, Labor pledges to cut inflation

Mr Morrison, who will be in Perth on Friday, will announce the expansion of the Defense Industry Pathways programme, which will upskill additional teenagers graduating or leaving school in 14 regions across the country.

Students will receive a nationally accredited Certificate III – Defense Industry Pathway, and be trained with hands-on experience in the trades, as well as skills in engineering, project management and logistics, and cybersecurity.

Mr Morrison said his government’s $270 billion investment in Australia’s defense capabilities over this decade included a “strong pipeline of workers” in local industry.

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“Our investment in building the capacity of the Australian Defense Force aims to keep our country strong and secure and to support local skills and jobs,” he said.

“The skills and knowledge this program will provide graduates with will prepare them for a career in defense equipment manufacturing technology and prepare them for life.”

Defense Industry Minister Melissa Price said more than 50 companies have signed up to mentor the 120 trainees taking part in the pilot project at Henderson in Western Australia.

“We must meet the growing workforce needs of our defense industry by training new workers and new generations,” she said.

“By training an additional 1,500 workers with work experience, we know these graduates will be ready to enter the workplace.”

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Opposition leader Anthony Albanese will campaign in Sydney, with Labor launching a fresh attack on the government’s handling of the economy.

Advertising will target weak wage growth and soaring cost of living.

“Scott Morrison doesn’t hold a pipe, but he should have held a calculator,” the TV ad reads.

“The millions of taxpayer dollars that he wasted on sports and parking lots have really piled up.

“He doubled our debt even before COVID and letting extremely profitable companies keep JobKeeper payments is one of the reasons our debt is now tripled.

“He says he’s good with money, but it really doesn’t fit.”

Mr Albanese appeared on the ABC’s Q+A on Thursday night, where he said a Labor government would put downward pressure on inflation by boosting productivity as opposed to significant spending offsets .

Labor has pledged to meet – or exceed – many of the government’s spending commitments, including the presumption rate freeze, cheaper drugs, third-stage tax cuts, one-off payments and tax offsets .

Asked if Labor commitments would be offset beyond its plan to raise taxes on multinational companies by $2 billion, with more spending fueling more inflation, Mr Albanese said said spending would be targeted to increase productivity.

“That’s how you put downward pressure on inflation,” he told the Q+A.

“You have to be careful with your spending. If you look at where our spending is… (it’s) measured, (it’s) aimed at stimulating, increasing productivity.”

He ruled out any changes to the third-stage tax cuts already legislated as well as any tax reviews or changes beyond multinationals paying a fairer share.

Earlier on Thursday, Mr Albanese outlined his plan to return the country to a earnings-sharing wage model.

The group incentive model that aims to boost productivity through a pay-for-performance system will work in synergy with a growing economy, Mr Albanese told the Australian Chamber of Commerce and Industry.

“The economic reforms I bring to this election will increase national income and increase productivity,” he said in Sydney.

“We need to bring wages back to the gain-sharing model. When a growing economy underpinned a first-world wage model. When the biggest pie of national income grew for the benefit of workers and corporations.”

Universal childcare will boost Australia’s economic output and women’s participation by supporting mothers, Mr Albanese said.

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