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PM And Treasurer Launch $800 Million ‘Digital Business’ Plan

CANBERRA: Continuing to find ways to stoke the hard-hit economy with new spending, PM Scott Morrison and Treasurer Josh Frydenberg yesterday lifted the lid on an $800 million “digital business” program.

Frydenberg said the Government is investing in Australia’s digital economy to keep businesses in business – and Australians in jobs.

“The Government’s Digital Business Plan is targeted at building on this digital transformation of Australian businesses to drive productivity and income growth and create jobs,” the Treasurer said. Major plans include:

  •  Some $256.6 million to develop a “digital identity system” to enable more secure and convenient engagement with government services, and in future, the private sector;
  •  A further $419.9 million to get a “modernising business registers” program up and running, to allow businesses to quickly view, update and maintain their business registry data;
  • Another $28 million for the rollout of the consumer data right to the banking and energy sectors; and
  • Another $29.2 million to “accelerate” the rollout of 5G; $22.2 million to help small business operators use digital technologies; $6.9 million for blockchain pilot systems aimed at reducing business costs; and $3.6 million to promote electronic invoicing by government agencies.

Lest anyone not get the message, the PM and Treasurer in unison added that “the Digital Business Plan is part of the Government’s economic recovery plan to grow the economy and create jobs and supports our goal for Australia to be a leading digital economy and society by 2030”.

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