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Super funds will play an ‘important role’ in funding long-term job creation

BROOKE CORTE

The Morrison Government has revealed its $1.5 billion, ten-year manufacturing strategy and has earmarked six key sectors it believes will drive Australia’s post-pandemic economic recovery.

Those sectors are resources and critical minerals, food and beverages, medical products, recycling and clean energy, defence, and space. Each was chosen because Australia has an established competitive advantage, or they represent emerging priorities.

Kick-starting the push is a $1.5 billion funding injection from the government, but developing the sector to be competitive on the world stage requires cooperation from a wide range of stakeholders in an almighty Team Australia moment.

Australia’s superannuation funds will play a critical role in this plan as they are the custodians of the necessary billions of capital need to fund long-term investments in smart companies developing products and services for the future.

HESTA CEO Debby Blakey says super funds have an important role in funding long term job creation.

“Super funds provide that long term, patient capital, and we do see ourselves as a long-term patient investor and we will have a big role in this post-COVID environment supporting that focus on rebuilding Australia,” Ms Blakey said.

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