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The government has announced it is investing almost $800 million to enable businesses to take advantage of digital technologies to grow their businesses and create jobs as part of the economic recovery plan.
The COVID-19 pandemic has accelerated the adoption of digital technologies by Australian businesses and consumers, which has enabled many to transform their operations and continue to trade through the crisis.
Prime Minister Scott Morrison said this year’s budget would support businesses to recover, build back and create more jobs as part of the economic recovery plan.
“Many businesses moved online quickly when the pandemic hit, undergoing a decade of change in months, finding new customers or new ways of doing things,” the Prime Minister said earlier this week.
“Our JobMaker Digital Business Plan provides significant backing to continue that digital push and expand opportunities for businesses to grow and create more jobs.
“The plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy.”
Similarly, Treasurer Josh Frydenberg explained that the government was investing in Australia’s digital economy to keep businesses in business and Australians in jobs as part of the economic recovery plan.
“The governments’ digital business plan is targeted at building on this digital transformation of Australian businesses to drive productivity and income growth and create jobs,” Mr Frydenberg said.
“Our digital infrastructure package is estimated to increase Australia’s GDP by $6.4 billion a year by 2024 and around $1.5 billion of this additional economic activity is estimated to flow to regional Australia each year.”
Key elements of the Digital Business Plan include:
These initiatives are in addition to the government’s $4.5 billion NBN investment plan to bring ultra-fast broadband to millions of families and businesses across the economy over the next two years.