A proposal to build nuclear reactors risks further delay to Australia's energy transition, says the prime minister who warns it would undermine certainty for business and industry.
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There would be little time to waste in boosting manufacturing, Anthony Albanese will say in a speech to the Committee for Economic Development of Australia's state of the nation conference on Thursday,
As the federal opposition outlined plans to build seven nuclear reactors across five states should it win the next election, the prime minister will argue such a move would put many sectors of the economy at risk.
"That's the trust cost of nuclear power in Australia, not the just the hundreds of billions of dollars in the cost of constructing the reactors more than a decade away ... but the danger that another decade of denial prevents the action on climate and investment in energy we need now," he will say.
"Australia has every resource imaginable to succeed in this decisive decade: critical minerals, rare earths, skills and space and sunlight, the trade ties to our region.The only thing our nation does not have, is time to waste."
The coalition had come under fire for not revealing the cost of the nuclear reactors, while indicating the first power plants would not be built before 2035 to 2037 at the earliest.
It comes as the federal government prepares to introduce laws to parliament setting up its future made in Australia agenda, aimed at increasing the nation's manufacturing sector.
Mr Albanese said the proposal would help drive Australia to meet net-zero targets, while strengthening sovereign capability.
"For Australia to realise its full potential, we must draw on the talents of our whole population and extend opportunity to every part of our country," he will say.
"This is about lifting Australia up the international value chain, by lifting our national ambition. Australia is the best in the world at extracting and exporting our natural resources.
"Our vision for a future made in Australia says that all these national strengths and advantages can be brought together to build something greater than the sum of the parts."
Australian Associated Press
