National Reconstruction Fund Investment Mandate Announced
30 November 2023
On the 30th of November, Minister for Industry and Science the Hon Ed Husic MP and Minister for Finance Senator the Hon Katy Gallagher announced the National Reconstruction Fund Corporation’s Investment Mandate.
The announcement comes following the establishment the National Reconstruction Fund earlier this year to drive investment in Australian manufacturing capabilities and deliver secure, well-paid jobs.
The Investment Mandate directs the National Reconstruction Fund Corporation to operate on a commercial, self-sufficient basis, including due diligence on investment decisions and the expectation of a return for the taxpayer. It requires the Corporation to target a rate of return of between 2 and 3 per cent above the five-year Australian Government bond rate over the medium to long term.
The Investment Mandate also outlines the National Reconstruction Fund’s key investment priority areas. They include:
- Renewables and low emission technologies.
- Medical Science.
- Agriculture, forestry and fisheries.
- Defence capabilities and enabling technologies.
On the 1st of February, Ivan Power was appointed as the CEO of the National Reconstruction Fund.
Hawker Britton’s occasional papers on the National Reconstruction Fund and other Federal Labor Government policies can be found here.
For more information, please contact Hawker Britton’s Managing Director Simon Banks on +61 419 648 587.