Statement - Labor’s National Reconstruction Fund under formal investigation - 18 June 2025
THE HON ALEX HAWKE MP
Shadow Minister for Industry and Innovation
Manager of Opposition Business in the House
STATEMENT
18 June 2025
Labor’s National Reconstruction Fund under formal investigation
It has been reported that the Albanese Labor Government’s flagship $15 billion National Reconstruction Fund (NRF) is the subject of a Public Interest Disclosure Investigation by Clayton Utz and KPMG.
According to media reports, key governance processes involving the handling of freedom of information requests and procurement activity are being investigated, and is being overseen by the Commonwealth Ombudsman, Australia’s whistleblower protection authority.
Shadow Minister for Industry and Innovation, the Hon Alex Hawke MP, said the revelations add to the long list of governance issues with the embattled NRF.
“Reports that Labor’s $15 billion industry fund is under formal investigation are deeply concerning,” Mr Hawke said.
“Allegations of misconduct continue to undermine confidence in the operation of the NRF at a time when Australia is facing significant productivity challenges, steep manufacturing insolvencies and ongoing skills shortages.
“The Coalition has consistently raised the alarm about the internal operations of the NRF, applying scrutiny to opaque application processes, sham board meetings and the slow rollout of funds.
“Given the significant taxpayer funds attached to the NRF, new Industry Minister Senator Ayres must explain what steps he has taken to assure himself this matter is being dealt with appropriately and what immediate actions he will take to improve governance of the Fund.”
ENDS
Media contact: William Spence - 0438 206 2222
BACKGROUND
Multiple NRF governance issues raised by the Coalition have included: