New economic development plan from Albanese

Prime Minister Anthony Albanese has announced funding for a new First Nations Economic Partnership.

The ‘collaboration’ between the Federal government and First Nations people will see $75m funding for Native Title holders and $35 million for mobile TAFE services.

The Federal Government said the funding would help Native Title holders to build capacity and work with the private sector to build wealth.

The first priorities for the Economic Partnership will include improving the funding model for Prescribed Bodies Corporate, through this new investment.

Along with ensuring Special Investment Vehicles like the Northern Australia Infrastructure Facility and the Australian Renewable Energy Agency are delivering for First Nations communities across Australia.

And looking at how the work of Indigenous Business Australia and the Indigenous Land and Sea Corporation can better deliver for all Indigenous communities, whether they hold Native Title or not.

The Albanese Government will also invest $31 million to establish 12 Mobile TAFE services.

These will be delivered in partnership with the Aboriginal and Torres Strait Islander community-controlled sector, states and territories.

Delivering training on Country – so locals have the skills to get jobs in construction, maintenance, health care, hospitality, resources and renewable energy.

We are also continuing to deliver tangible outcomes for Aboriginal and Torres Strait Islander people, including:

• Opening expressions of interest as part of $70 million in First Nations Clean Energy funding – to help get local projects up and running.
• A new round of 800 jobs in the Remote Jobs and Economic Development program – on top of the 650 jobs already delivered.
• A further 6 remote water upgrades – on top of the 33 already underway, bringing the total number of people who will benefit from clean and secure water supplies to 34,000.

“This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making,” Mr Albanese told the Key Forum at the Garma Festival in t6he Northern Territory on Saturday.

“Working with Aboriginal and Torres Strait Islander people right around our nation to boost skills and education, create jobs and back businesses.”

Minister for Indigenous Australians, Senator Malarndirri McCarthy said cconomic empowerment was about self-determination and creating opportunities that reflect the aspirations of First Nations communities.

“Prescribed Bodies Corporate are critical partners for Traditional Owners, the first point of contact in commercial negotiations and strong vehicles for First Nations economic empowerment,” Senator McCarthy said.

“The Government knows investing in remote First Nations communities is vital to unlocking their long-term prosperity.”

While seeing the positives from the announcement, many elders have again called for more dialogue over a Makarrata Commission.

And Independent Senator Lidia Thorpe said the Prime Minister’s new policy offered no tangible outcomes for Indigenous communities.

A fierce critic of the government, Senator Thorpe said it was time for the government to recommit to a treaty.

“Child stealing, jailing, deaths in custody and suicides are the most fundamental injustices being perpetrated against First Peoples, and still — no vision, no plan, no interest in taking action on this,” Senator Thorpe told the ABC.

What is the partnership? Read it here: https://treasury.gov.au/sites/default/files/2025-08/first-nations-economic-partnership.pdf