Submission to the Department of Industry, Science and Resources

Australian Industry Group supports the intent of the Community Benefit Principles (CBPs) and the broader ambition of the Future Made in Australia (FMIA) agenda. To succeed, FMIA must remain focused on its statutory purpose: enabling private investment where market forces alone are insufficient. As currently framed, FMIA Plans and associated guidance risk being over prescriptive, administratively heavy, and duplicative, particularly at the proposed $20 million threshold, with the likely effect of deterring precisely the innovative firms the policy seeks to crowd in.
 
We recommend a pragmatic recalibration that preserves integrity and community outcomes while maximising investability and delivery.