The funding will also help protect Australia’s critical infrastructure sectors
The Australian Government has committed $US1 billion in funding for cyber security and energy transition in the 2023 budget, focusing on addressing the skills gap in the cyber security sector and accelerating the country’s growth to a net-zero emissions economy.
The budget includes $US300 million for fee-free TAFE spots in emerging sectors, including cyber security. This investment is aimed at raising the cyber posture of governments and enterprises to meet the current challenges faced by the industry.
The funding will also help protect Australia’s critical infrastructure sectors and the digital economy.
In addition, the Government has committed to implementing the reforms detailed in the Defence Strategic Update (DSR), highlighting the importance of cyber security to national security and defence capabilities. The DSR also emphasises growing a sovereign industry to support cyber security efforts.
Adrian Tudehope, the CEO of Macquarie Government, has praised the Government’s commitment to cyber security and the measures outlined in the budget.
“Effective cyber security is critical to the success of any digital business, and the government’s investment in fee-free TAFE spots for emerging sectors, including cyber security, is a welcome step towards addressing the skills gap in the sector,” Tudehope said.
He also praised the Government’s commitment to implementing the reforms detailed in the DSR, stating that it will help strengthen Australia’s national security and defence capabilities.
“The cyber security landscape is constantly evolving, and it is essential that we have the right skills and capabilities to protect our critical infrastructure and digital economy. The Government’s commitment to growing a sovereign industry to support cyber security efforts will help to ensure that we are well-positioned to face the challenges ahead,” Tudehope added.
Overall, Tudehope believes that the Government’s investment in cyber security and energy transition is a positive step towards building a stronger and more resilient Australia.The budget includes $US310 million for a Small Business Energy Incentive, encouraging small businesses to invest in energy efficiency measures. However, some experts have criticised the measure, stating that most small businesses need spare cash to spend on non-core items in the current economic climate.
Huon Hoogesteger, Managing Director of Australian solar company Smart Commercial Solar, has welcomed the budget.
Hoogesteger has praised the Government’s commitment to energy transition and the establishment of a National Net Zero Authority, which he believes will help to re-skill workers and support the move away from coal-fired power stations.
He also welcomed the further $US20.9 million in funding for transport and infrastructure decarbonisation, recommending that funding be used to remove red tape for things like crossing boundaries.
Overall, the Government’s investment in cyber security and energy transition has been praised for its focus on addressing the country’s critical challenges.
With the support of these initiatives, Australia will be better equipped to face the growing threats in the cyber domain and accelerate its transition to a more sustainable future.