Published on the 26/10/2022 | Written by Heather Wright

Where’s the money going?…

It was billed as a no-frills budget, but Australian Treasurer Jim Chalmers’ first Labor Budget still managed to offer some carrots for technology – and the funding for some sticks too.

Chalmers, in his budget speech, said it was ‘a responsible Budget that is right for the times and readies us for the future’ – an ‘Australian-made future’.

“A better future for Australia must mean a future made in Australia. No more sleepwalking while other advanced economies seize new opportunities. No more surrendering industries and jobs overseas. No more selling out our future, by clinging to the past,” he said. 

Among the biggest ticket items for technology was a $166.2 million boost over four years for the troubled Australian Business Register modernisation program. The project, which is merging 30+ business registries into one mega consolidated system, has been garnering attention of the wrong sort after the new government accused the Coalition of hiding a massive $1 billion cost blow-out. The project, begun in 2019 and initially slated to cost $500 million, is now expected to cost $1.5 billion, with Chalmers saying earlier this year that the project was ‘not properly resourced’. 

The project has already been given a four-year extension after missing earlier project delivery deadlines. 

The Australian Tax Office and Australian Securities and Investments Commission (ASIC) will receive $80 million to continue the design and delivery of the modernised registry platform. A further $86.2 million is allocated to operate and regulate the director identification numbers regime and maintain ASIC’s registry systems.
New Zealand’s Foster Moore is providing the software for the registry platform. 

Cybersecurity subdued

Funding for cybersecurity was somewhat subdued. The Australian Public Service cyber hubs pilot which aim to improve the cyber defence capabilities of government agencies, received $31 million in new funding.

The OAIC is also receiving $5.5 million to help it respond to the Optus breach. Budget papers show the two-year investment will be used to ‘investigate and respond to the Optus data breach’. Preliminary inquiries into the breach – the largest since the launch of the Notifiable Data Breaches scheme with personal data of up to 9.8 million people exposed – are already underway. 

The OAIC has flagged that it needs increased staff to handle the increasing workloads, with its annual report, released last week, showing a 60 percent increase in applications for Information Commissioner reviews of Freedom of Information decisions of agencies and ministers and a 42 percent increase in FOI complaints. 

Staff numbers are expected to grow from 118 in FY2021-22 to 166 in FY2022-23.

The budget also sees $12.6 million committed over four years to combating scams and online fraud, with $9.9 million of that going to a new National Anti-Scam Centre, which will be established by the ACCC. 

Skilling up

Meanwhile funding is also being directed to ease ongoing skills shortages, with more than $1.4 billion directed to the TAFE and university sectors. 

There’s also $47.2 million over the next six years to bolster Australian science and technology talent, including $13.5 million to strengthen Australia’s capability to nurture critical technologies and $5.8 million to support women in Stem through funding for the Wise program and a planned review of Women in Stem programs. 

Quantum, which has been an increasing focus for Australia, is also getting a further boost with $4.8 million to fund 20 PhD scholarships in quantum and deepen collaboration on quantum technologies by universities. 

Last week CSIRO released an updated forecast on the possible impact of Quantum on the Australian market, saying it is forecast to generate more than 19,000 jobs and reach $6 billion in Australia by 2045.

CSIRO says the report’s figures are ‘conservative estimates’.

CSIRO senior economist Mingji Liu says quantum continues to be a significant opportunity for Australia in the years to come. 

“Although there is still uncertainty as to how quantum technology will be commercialised both around the world and domestically, the start-up funding and investment in quantum is encouraging,” he says.

The Prime Minister’s National Science and Technology COuncil’s science and technology advice and PM’s Prizes for Science are also getting bolstered with $2.9 million. 

The measures to support Stem and strategic science capabilities were given a thumbs up by Science and Technology Australia, with President Mark Hutchinson saying the strong support for equity in Stem will create opportunities to tap into Australia’s full talent pool. 

“It’s good to see continued support for research commercialisation along with modest but A new $50 million TAFE technology fund, which will run for two years, will also fund the modernisation of IT infrastructure, workshops, laboratories, Telehealth simulators and other facilities, the government says. 

Aged care, industry modernisation

The aged care sector will also be receiving $312.6 million for IT modernisation. 

Meanwhile $500 million in unspent manufacturing grants under the scrapped Morrison government industry grants program will be redirected into the $15 billion National Reconstruction Fund which aims ‘to diversify and transform Australia’s industry and economy’. 

The National Reconstruction Fund will deliver targeted co-investments in independently assessed projects across seven priority areas: resources; agriculture, forestry and fisheries; transport; medical science; renewables and low emission technologies; defence capability; and enabling capabilities.