VET News

Securing Australia's Future with a Modern Digital Economy

As part of this year's Federal Budget, $1.2 billion is being invested in Australia’s digital future through the Digital Economy Strategy (Strategy).

Prime Minister Scott Morrison said one of our biggest challenges and opportunities turns on how we respond to the digital transformation occurring in every sector and every facet of our lives.

“Every business in Australia is now a digital business. The tradesman or woman who seeks work through AirTasker. The landscaper who finds most of their new business through search engine placement and social media. The farmer who keeps track of their herd with electronic tags or drones. The local Thai restaurant that sells through UberEats, MenuLog, Deliveroo, or any one of half a dozen different food apps. The gym where members book their classes through an app,” the Prime Minister said.

With a focus on building digital skills and capabilities, encouraging business investment and transforming government services, the Strategy targets investment in emerging technologies, building digital skills, encouraging business investment and enhancing Government service delivery.  Through the Strategy the Morrison Government is investing in jobs for Australians now and into the future with key initiatives including:

• Over $100 million to support digital skills for Australians including a new pilot program for work-based digital cadetships that offer a flexible way for workers to build digital skills, investments in the cyber workforce, and scholarships for emerging technology graduates.
• Building Australia’s capability in Artificial Intelligence with $124.1 million in initiatives, including a National Artificial Intelligence Centre led by CSIRO Data 61, supported by a network of AI and Digital Capability Centres to drive adoption of AI across the economy.
• Enhancing Government services through a $200.1 million investment to overhaul myGov, making it easier than ever for Australians to find the services they need, as well as a $301.8 million investment to enhance the My Health Record and an expansion of the digital identity system.
• Investment incentives to support business growth, including a Digital Games Tax Offset of 30 per cent to support Australia taking a greater share of the $250 billion global game development market, and changes to the way Australian businesses can claim depreciation of intangible assets like intellectual property and in-house software.
• Helping small and medium businesses build their digital capacity through a $12.7 million expansion of the Digital Solutions - Australian Small Business Advisory Service, and $15.3 million to drive business uptake of e-Invoicing.
• $35.7 million to support emerging aviation technologies like drones, including grants to support the use of these technologies to address priority needs in regional Australia.
• Unlocking the value of data in the economy and setting the standards for the next generation of data management, including $111.3 million to accelerate the rollout of the Consumer Data Right in banking, energy and telecommunications.
• Strengthening safety, security and trust with over $50 million to enhance cyber security in government, data centres and future telecommunications networks.

To accelerate the business benefits of digital adoption across small and family businesses, the Government will also invest a further $12.7 million to expand the Digital Solutions – Australian Small Business Advisory Service.

Minister for Employment, Workforce, Skills, Small and Family Business Stuart Robert, who is also the minister responsible for whole-of-government data and digital policy, said ‘We are going to cement our economic recovery and secure our future prosperity through developing our greatest resource, the Australian people, and keeping Australians working,’ 

For further information see media release links below:

• Securing Australia's Recovery - Budget 2021-2022 (Overview Pages 24 and 25) - budget.gov.au - 11 May 2021
• A modern digital economy to secure Australia's future - Prime Minister of Australia Media Release - 6 May 2021
• Securing Australia's digital workforce and delivering digital government for all Australians - Minister for Employment, Workforce, Skills, Small and Family Business, the Hon. Stuart Robert - 6 May 2021

Date posted May 13, 2021