Budget 2021: $1.2 Billion Into Australia’s Digital Future
The Australian government has announced it will be spending $1.2 billion (US$930 million) to help grow the nation into a leading digital economy by 2030 as part of the upcoming federal budget.
“Every business in Australia is now a digital business,” Prime Minister Scott Morrison said. “This transformation is not merely a national one that needs to happen it’s a global one that is happening.”
“We must keep our foot on the digital accelerator to secure our economic recovery from COVID-19.”
The measures include $100 million in digital upskilling programs, $124 million for Artificial Intelligence initiatives, a 30 percent tax offset for the game development market, and strengthening of cyber security.
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China has formally suspended all contact falling under a key economic forum with Australia as relations between the countries strain even further.
The move officially cuts off the China-Australia Strategic Economic Dialogue, with China blaming ideological discrimination on the part of the Australian government.
Finance Minister Simon Birmingham has downplayed the significance of the decision, saying Beijing hasn t engaged with Australia through the framework since 2017.
Senator Birmingham described China s refusal to participate in the discussions as regrettable and questioned why they had decided to now announce the suspension in talks. This has been a position that they have held and frankly just continue right now and it’s disappointing because the best way to work through differences is through dialogue, he told SBS News.
Australia closed to tourists until 2022
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Australia will remain closed to the majority of international arrivals until at least the start of 2022, the Government has said. We won t be seeing borders flung open at the start of next year with great ease, Finance Minister Simon Birmingham told The Australian on Thursday, citing uncertainties that exist not just in the speed of the vaccine rollout but also the extent of its effectiveness to different variants of Covid, the duration of its longevity and effectiveness.
This marks a delay in earlier plans for the country, which is behind on its vaccination drive target, to open its borders by October of this year, presenting a major blow to those who have been separated from their overseas loved ones for more than a year and counting.
Australia s $32b COVID welfare bill to be slashed 06/05/2021|2min
A rapid rebound in Australia’s jobs market is expected to be revealed in next week’s federal budget – with the number of Australians on JobSeeker payments expected to return to pre-pandemic levels in the next four years.
The nation’s $32 billion welfare bill is expected to be more than halved by 2025 as the country continues to fast track its economic recovery.
Finance Minister Simon Birmingham said by 2025 welfare payments are expected to fall to $14.7 billion, which is down from the $32 billion forecast in MYEFO.
The federal government continues to stand firm on its cautious approach to post-pandemic life, saying it will not jeopardise the economic recovery by rushing to reopen international borders.
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