Federal Budget 2020: Implications for the Technology Sector
3 months ago by Talenza
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.
Digital Business Plan
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.
5G Roll Out Funding
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.
Women in STEM
$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.
Services Australia Boost
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.
Other Notable Investments
$256 million over two years to expand the Digital Identity scheme
$222 million to fund the Department of Agriculture, Water, and the Environment’s (DAWE) DAWE’s IT system modernisation
$295.9 million over four years for a new digital employment services platform
$105 million over four years towards the Australian Transaction Reports and Analysis Centre (Austrac)
$64.1 million for the Department of Veterans' Affairs’ (DVA) data sharing and analytics work
$97 million for the Australia Electoral Commission’s (AEC) modernisation program
$91.6 million over four years for the Department of Education, Skills and Employment’s (DESE) apprenticeships data management system
$35.6 million towards the Government Enterprise Resource Planning (GovERP) system
$25.4 million to drive digital transformation and IT systems improvements for the Digital Transformation Agency (DTA) and Services Australia
$18.6 million to improve the IT systems that support MBS telehealth services
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.