The Federal Government recently released its 2020-21 budget, and while many of the big-ticket measures are around economic recovery, there are plenty of provisions for the Tech sector as well. With the events of the past year accelerating the country’s adoption of digital capabilities, the government’s focus on IT is exciting news for both businesses and individuals in the Technology and Digital space.
Here’s what you need to know.
The pre-announced Job Maker Digital Business Plan aims to drive progress towards Australia becoming a leading digital economy by 2030. It will provide almost $800 million in funding to help businesses take advantage of digital technologies to grow their businesses and create jobs. Key aspects of the plan include $256.6 million to develop a Digital Identity system and $419.9 million toward the implementation of the Modernising Business Registers (MBR) program.
As part of the Digital Business Plan, the government has pledged $29.2 million to trial the use of 5G across various sectors, including the $22.1 million Australian 5G Innovation Initiative focused around supporting private sector investment in 5G applications, products, and services. An additional $7.1 million will support the allocation and management of radio frequency spectrum for use in mobile telecommunications networks.
$25 million will be put towards a Women in Science, Technology, Engineering and Mathematics (STEM) Industry Cadetship program to increase female involvement in STEM careers and education. This comes as part of the wider Second Women’s Economic Security Package, which will also provide $35.9 million to support female-driven start-ups and $27 million to endorse STEM curriculum resources within schools.
One of the big winners of the latest budget, Services Australia is set to receive over half a billion dollars to complete its Centrelink payments system overhaul, including $166.9 million for its Welfare Payment Infrastructure Transformation (WPIT) program. It will also receive $22.5 million to rebuild the myGov system and a further $116.3 million for its Medicare payments system modernisation project.
If you’d like to discuss how the budget might impact you or want to be the first to hear about the new opportunities that result from these funding boosts, speak to the team at Talenza. Our specialist IT recruitment consultants always have an ear to the ground and are dedicated to using their extensive knowledge of the Australia market to benefit our clients and candidates alike.
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