Albanese says Australia needs ‘sharper elbows’ as he signals domestic innovation push

Prime minister says government needs to be ‘more strategic and more sophisticated’ to compete globally

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The prime minister, Anthony Albanese, is signalling a dramatic shift to unapologetically and directly supporting Australian industry and innovation, saying the country needs “sharper elbows when it comes to marking out our national interest” and competing with the rest of the world.

In a speech to be delivered to the Queensland Press Club on Thursday, Albanese will effectively launch his bid for re-election with a plan for a green interventionist industry policy, one which uses direct government support to speed up the energy transition, provide certainty for business and stem the flow of money and ideas to countries offering investment incentives.

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