Barton Deakin Brief: Digital Economy Strategy

6 May 2021

Overview

Today the Prime Minister announced $1.2 billion in funding for a new Digital Economy Strategy. The Strategy includes eight key initiatives with the aim to modernise Australia’s digital economy.

Key Initiatives of the Strategy

Digital Skills

• $10.7 million for a digital skills cadetship.
• $43.8 million for the expansion of the Cyber security skills partnership innovation fund.
• $24.7 million for the Next Generation Artificial Intelligence Graduates Program.
• $22.6 million for the Next Generation Emerging Technology Graduates Program.

Artificial Intelligence

• $53.8 million to create a National Artificial Intelligence Centre.
• $33.7 million to support businesses partnering with government projects for AI-based solutions to national challenges.
• $12 million for 36 grants for businesses to develop AI solutions to address local and regional problems.

Enhancing Government Service Delivery

• $200.1 million to enhance the ‘myGov’ website for a better user experience.
• $301.8 million towards improving the ‘My Health Record’ system, including the addition of COVID-19 testing and vaccinations, improved telehealth services and the linking of aged care facilities.

Investment Incentives

• Providing a digital games tax offset for expenditure in Australian video games businesses.
• Allow taxpayers to self-assess the life of certain depreciating intangible assets. This will allow businesses to write off a higher amount of tax deductibility if the depreciation value for an asset is higher than the current statute.
• The government to undertake an assessment to review the venture capital tax concessions to ensure outcomes are achieved.

SME Digitalisation

• $12.7 million for the ‘Digital Solutions’ Australian small business advisory services program to provide independent advice to small businesses on building their digital capabilities.
• $15.3 million to enhance the value of electronic invoicing for small businesses.

Emerging Aviation Technology

• The National Emerging Aviation Technology Policy Statement to set a framework for managing new aviation technologies.
• A framework for a Drone Rule Management System for the use of recreational and commercial drone operators.
• Development of the National Drone Detection Network to detect drones for security and cybersecurity purposes.
• $32.6 million for the Emerging Aviation Technology Partnerships program to support the use of technology to address needs in regional Australia.

Data and the Digital Economy

• The development of an Australian Data Strategy to develop a strategy for safer and more secure government data use.
• $111.3 million to support the acceleration of the Consumer Data Right rollout.
• $40.2 million to deliver the Digital Atlas of Australia.
• $16.5 million for a pilot program to make the Australian Government’s data assets discoverable. This program aims to improve the management of government data.

Cyber Security, Safety and Trust

• $31.7 million to work with business and industry to research and develop 5G and 6G technologies.
• $16.4 million for the Peri-Urban Mobile program to improve mobile phone connectivity in bushfire-prone areas on the fringes of major cities.
• Creation of initiatives to improve standards of trust for digital identities in Australia.
• The development of a National Data Security Action Plan to strengthen the security of Australian government data and the data of individuals and businesses.
• The establishment of a Government Cyber Hubs program to improve the cyber security of Government agencies.

For more information

• The Prime Minister’s Media Release
• Digital Economy Strategy

For more information, contact David Alexander on +61 457 400 524, Grahame Morris on +61 411 222 680, Tahlia Robertson on +61 438 259 671, Cheryl Cartwright on +61 419 996 066 or Jack de Hennin on +61 424 828 127.