img

A modern digital economy to secure Australia’s future

Media Releases

Date : 06 May 2021

Author: The Hon Josh Frydenberg MP

The Hon. Scott Morrison MP

Prime Minister

The Hon. Josh Frydenberg MP
Treasurer

Senator the Hon. Jane Hume

Minister for Superannuation, Financial Services and the Digital Economy

Minister for Women’s Economic Security

JOINT MEDIA RELEASE

 

Thursday 6 May 2021

A MODERN DIGITAL ECONOMY TO SECURE AUSTRALIA’S FUTURE

The Morrison Government is investing almost $1.2 billion in Australia’s digital future through the Digital Economy Strategy, as part of this year’s Federal Budget.

The strategy outlines the policies and actions the Government is taking to grow Australia’s future as a modern and leading digital economy by 2030.

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.

“This transformation is not merely a national one that needs to happen – it’s a global one that is happening.

“We must keep our foot on the digital accelerator to secure our economic recovery from COVID-19.”

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:

Treasurer Josh Frydenberg said a vibrant digital economy is key to Australia’s economic future.

“Our Digital Economy Strategy will allow Australian businesses to capitalise on the opportunities that digital technologies are creating,” the Treasurer said.

“Greater digital adoption will improve our competitiveness and lift our productivity – driving job creation and higher wages.”

Minister for the Digital Economy, Senator the Hon Jane Hume, said the 2021-22 Budget represents a landmark investment in Australia’s digital future.

“So many Australians are already participating in the digital economy, some without even realising it. Every contactless purchase, e-Invoice, business website or small business going online – it’s all part of it and it’s growing rapidly,” Minister Hume said.

“This is a really exciting announcement, which will drive investment and uptake of emerging technologies, unlock the value of data, build skills for a modern economy, and enhance Government service delivery.

“We want to improve Australians’ standard of living, create jobs and make access to Government services easier.

“Twenty years ago you might have looked in the phone book to find a plumber, now we turn to Google and comparison services – we get quotes within the same day and pay software generated invoices on our mobiles. Think about how much time and administration work that saves. Australians rightly expect the Government to keep up with them, and to help chart the next step forward, and that’s exactly what we are doing with this Strategy.”

The Strategy builds on the Morrison Government’s investments in infrastructure, skills, cyber security, regulations and digital trade, taking the digital economy spend to around $2 billion over the 2020-21 and 2021-22 Budgets, on top of the $1.67 billion Cyber Security Strategy 2020, $1 billion for JobTrainer and the $4.5 billion investment in NBN upgrades.

The full Digital Economy Strategy will be released on Budget night, alongside further measures that support and complement the Strategy.

For more information visit: digitaleconomy.pmc.gov.au

[ENDS]

@JoshFrydenberg on Twitter JOSH ON TWITTER