The majority voted in favour of agreeing with the main idea of the bill. In parliamentary jargon, they voted to read the bill for a second time. This means that they can now consider it in more detail.

Motion text

Note that the wording of the motion voted on it this division was a little different from normal due to an amendment from Senator Whish-Wilson and another from Senator David Pocock, so the motion text was:

That this bill be now read a second time, but the Senate:

(a) is of the opinion that:

(i) building a circular economy is a central element of delivering net-zero emissions,

(ii) a circular economy can bolster Australia's capabilities and reduce supply chain vulnerabilities, and

(iii) the benefits of a circular economy could add $210 billion in GDP by 2047-48, creating an additional 17,000 full-time equivalent jobs; and

(b) calls on the Government to:

(i) invest in projects that facilitate the establishment of a circular economy for renewable energy and other products,

(ii) incorporate circular economy principles into the Investment Mandate for the National Reconstruction Fund; and

(iii) seek that the National Reconstruction Fund Board give regard to outcomes and advice from the Circular Economy Taskforce".

... [and] the Senate:

(a) notes that:

(i) the success of the National Reconstruction Fund Corporation's work will depend in large part on the existence of a sustainable pipeline of eligible projects at a stage suitable for funding through the Corporation, and

(ii) the work of the Corporation will reach across multiple portfolio areas and have a long-term, transformative impact on Australia's economy and industrial base; and

(b) calls on the Government to:

(i) commit to exploring additional policy mechanisms to provide Australian startups access to finance as they navigate the path to commercialisation, and

(ii) establish an office for the Corporation in the Australian Capital Territory to foster collaborative engagement with other key government bodies and private corporations and access to a skilled local workforce".

What is the bill's main idea?

According to the bills digest, which is an explanatory document prepared by the parliamentary library:


  • 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’.

Votes Passed by a small majority

Nobody rebelled against their party.

Party Votes
Australian Greens (109% turnout) 12 Yes 0 No
Penny Allman-Payne Queensland Yes
Dorinda Cox WA Yes
Mehreen Faruqi NSW Yes
Sarah Hanson-Young SA Yes
Nick McKim Tasmania Yes
Barbara Pocock SA Yes
Janet Rice Victoria Yes
David Shoebridge NSW Yes
Jordon Steele-John WA Yes
Lidia Thorpe Victoria Yes
Larissa Waters Queensland Yes
Peter Whish-Wilson Tasmania Yes
Australian Labor Party (80% turnout) 20 Yes 0 No
Carol Brown Tasmania Yes
Anthony Chisholm Queensland Yes
Raff Ciccone Victoria Yes
Don Farrell SA Yes
Katy Gallagher ACT Yes
Nita Green Queensland Yes
Karen Grogan SA Yes
Jenny McAllister NSW Yes
Malarndirri McCarthy NT Yes
Fatima Payman WA Yes
Helen Polley Tasmania Yes
Louise Pratt WA Yes
Tony Sheldon NSW Yes
Marielle Smith SA Yes
Glenn Sterle WA Yes
Jana Stewart Victoria Yes
Anne Urquhart Tasmania Yes
Jess Walsh Victoria Yes
Murray Watt Queensland Yes
Linda White Victoria Yes
Tim Ayres NSW Absent
Catryna Bilyk Tasmania Absent
Patrick Dodson WA Absent
Deborah O'Neill NSW Absent
Penny Wong SA Absent
Jacinta Nampijinpa Price NT Country Liberal Party No
Andrew McLachlan SA Deputy President No
David Pocock ACT Independent Yes
Lidia Thorpe Victoria Independent Absent
Jacqui Lambie Network (0% turnout) Absent
Jacqui Lambie Tasmania Absent
Tammy Tyrrell Tasmania Absent
Liberal National Party (100% turnout) 0 Yes 2 No
Matthew Canavan Queensland No
James McGrath Queensland No
Liberal Party (83% turnout) 0 Yes 19 No
Alex Antic SA No
Wendy Askew Tasmania No
Slade Brockman WA No
Michaelia Cash WA No
Claire Chandler Tasmania No
Richard Colbeck Tasmania No
Jonathon Duniam Tasmania No
David Fawcett SA No
Sarah Henderson Victoria No
Hollie Hughes NSW No
Jane Hume Victoria No
Kerrynne Liddle SA No
Matt O'Sullivan WA No
Gerard Rennick Queensland No
Linda Reynolds WA No
Anne Ruston SA No
Paul Scarr Queensland No
Dean Smith WA No
David Van Victoria No
Simon Birmingham SA Absent
Andrew Bragg NSW Absent
James Paterson Victoria Absent
Marise Payne NSW Absent
National Party (75% turnout) 0 Yes 3 No
Perin Davey NSW No
Susan McDonald Queensland No
Bridget McKenzie Victoria No
Ross Cadell NSW Absent
Pauline Hanson's One Nation Party (100% turnout) 0 Yes 2 No
Pauline Hanson Queensland No
Malcolm Roberts Queensland No
Sue Lines WA President Yes
Ralph Babet Victoria United Australia Party No
Totals (84% turnout) 34 Yes – 29 No