Thousands of businesses across Australia’s $133 billion food and grocery manufacturing industry have welcomed the government’s new economic plan, according to the Australian Food and Grocery Council (AFGC).
Through the new National Reconstruction Fund, the Australian government aims to invest in the future to make the nation and manufacturing industry more “self-reliant” to manoeuver tough economic conditions.
In order to address ongoing challenges, the government has shifted its focus to improving the supply chain systems, addressing skills and labour shortages and providing cleaner, cheaper, reliable energy.
AFGC’s chief Tanya Barden said supply chain constraints due to Covid and the war in Ukraine have “driven up” commodity, energy and freight prices.
“Around Australia, the impacts of weather disasters are still flowing through the sector and businesses that make our everyday essential items are dealing with workforce shortages due to Covid.
“Recent years have shown that our industry can withstand enormous stress but that it is fragile and so now is the time to invest in new skills, new technologies and infrastructure to increase the industry’s resilience.”
Earlier, federal treasurer Jim Chalmers warned inflation has yet to hit its peak.
