EMMA REBELLATO: Okay, let's go to politics now because the Federal Government's $15 billion tech fund is making its first investment, tipping in $40 million to a Toowoomba factory. Ed Husic is the Science and Industry Minister and joins us now from Canberra. Minister, thanks for joining us this morning.

ED HUSIC: Hi Emma, how are you?

EMMA REBELLATO: I'm very well, thank you. Can you tell us why this company has been chosen to be the first one?

ED HUSIC: Well, the National Reconstruction Fund was set up after the pandemic, obviously to help us build key manufacturing and tech capabilities in the country so we can stand on our own two feet in the cities, in our regions to make sure that we in the longer term have really solid jobs for Australians, secure and well paying. The first investment that's been made by the $15 billion National Reconstruction Fund has been in the RME that's been doing some tremendous work in the resources sector, particularly helping them do things better at less cost, manufacturing mill lining equipment. And it already has hundreds of jobs in Toowoomba. It wants to be able to stay, to grow and to have a long-term future in regional Queensland. And so, this investment is the first of many that we'll start to see being announced by the NRF but is an important signal about what we want to be able to achieve as a nation longer term in reducing our dependency on broken and concentrated supply chains.

EMMA REBELLATO: Minister, the National Reconstruction Fund has been set up now for more than a year. Why has it taken so long to get to this point?

ED HUSIC: Well, the difference in terms of what the National Reconstruction Fund does, is it provides loans, equity and guarantees to firms that are looking in across about seven priority areas to expand and grow their operations. And so given the sizes of the investments, it does take more time to be able to go through to shape up what the investment will look like, how big it will be, over what term, the rate of return. Because the other important thing to stress to viewers is this is not about handing out grants and certainly not doing it on the basis of political colour-coded spreadsheets as we saw with the last government. So, getting those investment right, those investments right takes a bit of time, but when they do, it's a bigger investment, a bigger stake and a bigger aim which is to grow, provide long term growth for the country.

EMMA REBELLATO: Minister, Parliament returned yesterday for what is set to be a very busy fortnight. I just want to talk about a couple of issues that were raised yesterday. Firstly, this cap on international university numbers. The Opposition now says it won't support the cap. Where do we go from here? Is this dead? How do universities deal with it?

ED HUSIC: Well, our government has said we want to work to bring immigration to pre-pandemic levels. Peter Dutton in Budget, in reply speeches, said that he wanted to do the same. And the problem is with the Coalition, they always talk tough, act soft. They don't back up what they say they'll do. This is another case of them playing politics, putting their political interest above the interest of the country. We are determined. We already have some measures in place to help us in this area. But as stakeholders have observed, the Coalition just opposing this legislation gives no solution, no indication about what they do. And so, the onus is on them now to say, well if you said this is important to do, why won't you actually support work to be done in this space?

EMMA REBELLATO: Speaking of playing politics, Clive Palmer was on 7.30 last night being asked about electoral reforms. He's saying that this is a Labor and Liberal stitch-up to have, for Labor and the Liberal Party to have the entire game to themselves. What's your response to that?

ED HUSIC: Well, we want our democracy to be on the basis of votes, not money. We don't think big money should influence Australian elections. I think a lot of Australians will welcome the idea that we cap, in particular the amount of money that is being spent on elections. A number of state governments have started to work and walk down this path. And so, I'm not surprised people with a lot of money who want to be able to influence elections are upset by what we're wanting to do. But I think a lot of Australians will back what we are trying to do and want to make sure that we've got elections that are fair and that aren't influenced by big money.

EMMA REBELLATO: Ed Husic they're just two of the issues that are being debated in Parliament. You've got a whole stack of critical bills that are going before Parliament in these final two weeks. A lot of them are stalled. If some of these bills get stuck in the Senate, do you think you can call this term of Parliament a success?

ED HUSIC: I think if you look at the range of things that we have done across numerous areas where we have been particularly focused on helping Australians with their cost of living or setting up our economy for the long term in line with the announcements we're making today with the National Reconstruction Fund and its investments in Australian manufacturing, we, we have done a lot. We do have an ambitious agenda. We do have two weeks left of the year. And I think anyone who's been a long-term watcher, like yourself of Australian politics and many others, know that things at one moment might look tough and then suddenly a solution does appear. That's just the nature of the Australian Parliament. So, I think we've done a lot, got a lot more to do and just watch this space.

EMMA REBELLATO: Minister, just before we let you go, I just want to ask you, a story about a couple of Australian teenage women, 19-year-olds.

ED HUSIC: Oh awful, yes.

EMMA REBELLATO: Yeah. Overseas. So, they've fallen ill after reportedly drinking spiked cocktails in Laos. They're now in hospital in Thailand. Do you have any update on them at all, or if you know about consular assistance that's being provided to them?

ED HUSIC: Look, firstly, I've got to say it was just terrible to hear that news and I can just imagine what the families are going through. A lot of Australians would be wishing all the best to particularly the young Australians that have been affected by this. DFAT has been providing consular support and will continue to do so. But I just really want to emphasise, clearly, we want, we want these young Australians to be better, to get better and to not be affected in the way that they are and extending just our thoughts to their families.

EMMA REBELLATO: I think that's echoed around the country. Minister Ed Husic, thank you very much for joining us this morning. Appreciate it.

ED HUSIC: Thanks, Emma. Thank you.