Read Time:1 Minute, 50 Second
Australia’s latest budget is intended to address the country’s tech talent shortfall, improve broadband connectivity in remote and regional areas, and strengthen commercial cyber security.
Earlier this week, the Australian federal government announced its budget for 2022–2023, which includes expenditures to close the nation’s digital divide, strengthen the cyber resilience of its citizens, businesses, and governments, and close the tech skills gap.
For the IT industry, 1.5 million additional homes and commercial buildings will have “fibre-ready access,” giving over 90% of Australia’s fixed line footprint access to gigabit speeds by late 2025. The government will contribute A$2.4 billion of equity to NBN Co. over four years.
According to Simon Bush, CEO of the Australian Information Industry Association, “Australia does have a digital divide between our cities and regions, so the significant $1.2bn in additional investment in NBN Co – particularly targeting regional areas and connectivity – should lessen the barriers for regional Australia and assist in expanding the tech workforce in a post-pandemic world.”
For the cybersecurity sector, the Office of the Australian Information Commissioner (OAIC) has been granted more than $5 million for two years to investigate and address the Optus data breach in the aftermath of recent high-profile data breaches at Optus, Medibank Private, and other organisations.
“We must get the balance right between putting legislation in place around when companies need to report breaches and fines to ensure they do the right thing, but not making it too onerous that companies don’t comply and it stifles innovation,” said Elenium co-founder and CEO Aaron Hornlimann.
For the Government IT sector, more than 30 business registers will be consolidated onto a modernised registration platform as part of the Modernising Business Registers program, which will continue with additional four-year financing totalling A$166 million.
Lastly, the government has set aside A$872 million for over five years to offer 480,000 fee-free Technical and Further Education (TAFE) and vocational education places in fields and areas with skilled workers.
The latest budget focuses on improving Australia’s technology infrastructure and capabilities. This is expected to bring benefits in terms of economic growth, national security, and overall competitiveness.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0
