Australia PM unveils plan to overhaul economy, invest in green energy

Mining superpower Australia on Thursday announced a US-style scheme to pour public money into manufacturing and clean energy industries, joining the global race to build a cleaner and more resilient economy.

Prime Minister Anthony Albanese unveiled the "Future Made in Australia Act" to help compete with global partners who are providing massive subsidies to new industries. Anthony Albanese, Australian Prime Minister said "We will continue to champion global markets and free trade to build bilateral and multilateral cooperation and forge agreements. Equally, we must recognize that the partners we seek are moving to the beat of a new economic reality. "

Albanese also described the climatic and economic changes underway as every bit as significant as the industrial revolution and more rapid and wide-ranging than both".