Division Description Changes — Bills — National Reconstruction Fund Corporation Bill 2022; Second Reading — 9th Mar 2023

Change	Division
representatives vote 2023-03-09#1 Edited by mackay staff on 2023-03-17 09:19:47	Title Bills — National Reconstruction Fund Corporation Bill 2022; Second Reading National Reconstruction Fund Corporation Bill 2022 - Second Reading - Agree with bill's main idea Description ~~<p class="speaker">Milton Dick</p>~~ <p>In accordance with standing order 133(b), I shall now proceed to put the question on the motion moved on the National Reconstruction Fund Corporation Bill 2022 on which a division was called for and deferred in accordance with standing orders. No further debate is allowed. The question is that the bill be read a second time.</p> The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2023-03-09.3.2) to agree with the bill's main idea. In other words, they voted to read it for a [second time](https://peo.gov.au/understand-our-parliament/how-parliament-works/bills-and-laws/making-a-law-in-the-australian-parliament/). They can now discuss it in greater detail. ### What is the bill's main idea? According to the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd2223a/23bd053): > Background > *> The Australian Labor Party (ALP) committed to* the $15 billion National Reconstruction Fund on 15 November 2021 as ‘the first step in Labor’s plan to rebuild Australia’s industrial base’.* > * Arguments for the proposal have focused on Australia’s low manufacturing self-sufficiency and ‘economic complexity’. Opponents have focused on the risks created by market interventions. > * Outside Parliament, a broad range of interest groups have supported the proposal. > > Purpose of the Bill > *> The main purpose of the National Reconstruction Fund Corporation Bill 2022 (the Bill) is to establish the National Reconstruction Fund Corporation (NRFC) in order to ‘facilitate increased flows of finance into priority areas of the Australian* economy’.* ~~<p></p>~~ ~~<p></p>~~

~~Milton Dick~~
In accordance with standing order 133(b), I shall now proceed to put the question on the motion moved on the National Reconstruction Fund Corporation Bill 2022 on which a division was called for and deferred in accordance with standing orders. No further debate is allowed. The question is that the bill be read a second time.
The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2023-03-09.3.2) to agree with the bill's main idea. In other words, they voted to read it for a [second time](https://peo.gov.au/understand-our-parliament/how-parliament-works/bills-and-laws/making-a-law-in-the-australian-parliament/). They can now discuss it in greater detail.
### What is the bill's main idea?
According to the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd2223a/23bd053):
> *Background*
>
> * *The Australian Labor Party (ALP) committed to the $15 billion National Reconstruction Fund on 15 November 2021 as ‘the first step in Labor’s plan to rebuild Australia’s industrial base’.*
> * *Arguments for the proposal have focused on Australia’s low manufacturing self-sufficiency and ‘economic complexity’. Opponents have focused on the risks created by market interventions.*
> * *Outside Parliament, a broad range of interest groups have supported the proposal.*
>
> *Purpose of the Bill*
>
> * *The main purpose of the National Reconstruction Fund Corporation Bill 2022 (the Bill) is to establish the National Reconstruction Fund Corporation (NRFC) in order to ‘facilitate increased flows of finance into priority areas of the Australian economy’.*
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