Labor's $13.7 billion Future Made In Australia (FMIA) policy passed the Senate this week with the help of the greens. FMIA includes billions of dollars in subsidies to promote local green iron and steel making, as well as hydrogen. In this interview with Mike Jeffreys at Radio 2GB/4BC, I explain why FMIA will fail. High energy costs will continue to destroy what is left of Australia's manufacturing industry. My MB article on this topic can be read here: https://www.macrobusiness.com.au/2025/02/there-is-no-future-made-in-australia/