THE HON ANDREW HASTIE MP
SHADOW MINISTER FOR INDUSTRY AND SOVEREIGN CAPABILITY
FEDERAL MEMBER FOR CANNING

THE HON DAN TEHAN MP
SHADOW MINISTER FOR ENERGY AND EMISSIONS REDUCTION
FEDERAL MEMBER FOR WANNON

JOINT STATEMENT
LABOR’S NET ZERO FORCES MORE INDUSTRY BAILOUTS

Thursday 13 August 2026

Today’s $2.5 billion bailout of Tomago Aluminium marks another shameful chapter in Labor’s destruction of Australian heavy industry.

Tomago is a critical industrial asset. The fact it now joins an ever-growing list of Australian manufacturers fighting for survival because of Labor’s failed energy policies is a disgrace.

Since 2022, the Albanese Government has overseen the closure or bailout of some of Australia’s most important industrial facilities – Whyalla, Nyrstar, Boyne, Glencore, the Boyer paper mill, Bell Bay, Oceania Glass, Nickel West.

This is what a “Future Made in Australia” looks like under Labor.

Instead of fixing the fundamentals, Labor is pushing ahead with its Net Zero agenda: pursuing radical climate targets rather than cheap power at the cost of Australia’s sovereign capability.

Australian industry, businesses and households need affordable and reliable baseload power. 

Energy Minister Chris Bowen admitted as much today, when he said he agreed with Tomago that renewable energy was not coming online with sufficient speed and reliability.

Labor’s Net Zero agenda is driving up the cost of energy, while taxpayers are forced to fund billions in industry bailouts.

[ENDS]