PM to announce $1.5 billion manufacturing boost to bring 80k jobs to Australia

Prime Minister Scott Morrison is expected to reveal a $1.5 billion boost to the manufacturing industry today, which will create up to 80,000 new jobs.

Most of the funding will go to a scheme to expand the sector and create new jobs, and aim to help get the country out of recession.

9News understands the Commonwealth will provide grants on the basis that businesses will co-invest — with grants focused on six key areas: medical products, space technology, resources and critical minerals processing, defence, clean energy and recycling, and food and beverages.

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It is estimated the plan could create about 80,000 direct jobs, another 300,000 indirectly.

There are currently around a million Aussies out of work.

Mr Morrison will give the speech announcing the move at The National Press Club in Canberra - five days before the Federal Budget is unveiled.