Australian Federal Budget 23/24
Budget wins for foreign investors
The Australian Government has released its Budget 2023-24. It commits significant funding to grow key industries in Australia, including renewable energy, critical minerals and the digital economy.
The Budget includes:
A$40 billion to develop Australia’s net zero industries, jobs and communities
A$80 million to support Australia’s critical minerals sector and A$57.1 million to develop Critical Minerals International Partnerships
Funding for the A$2 billion Hydrogen Headstart program to accelerate large-scale renewable hydrogen projects
Over A$100 million over 5 years for Australian quantum and artificial intelligence
Funding to set up and operate the A$15 billion National Infrastructure Fund.
These commitments create strong opportunities for companies looking to invest in Australian renewables, hydrogen, new energy, digital technologies and infrastructure.