Wednesday, May 10, 2023

Cyber Gets Funding in 2023/24 Budget

The 2022/23 Australian Federal Budget Papers are available online. Here are some items of interest on information technology and higher education. 

From Statement 1: Budget Overview, Page 31 (emphasis added):

"Small business cyber security program

The Budget provides $23.4 million to support small businesses to build resilience to cyber threats. Small and medium businesses are the target of 60 per cent of cybercrime, which is now costing Australia more than $33.0 billion in reported losses per year. The Cyber Wardens program will address this vulnerability by equipping small businesses with the foundational skills they need to improve cyber safety. This program will be delivered by the Council of Small Business Organisations Australia and will support more than 15,000 small businesses.

Investing in a stronger, more productive and safer digital future

Data and digital transformation continue to present new opportunities for governments, businesses, communities, and households to change the way Australians live and work. This Budget ensures Australians are at the forefront of the digital economy while protecting them from the potential risks of the digital transformation. The Government is investing more than $2.0 billion in 2023–24 in digital and ICT to deliver easy, accessible, and secure services for people and businesses.

Consumer Data Right

The Government is continuing its investment in the Consumer Data Right (CDR) with $88.8 million to support the CDR in banking, energy and the non-bank lending sectors, progress the design of action initiation and undertake a cyber security uplift. This provides Australian consumers, both individuals and small businesses, with a more secure way to safely share data online. The CDR gives consumers an enhanced ability to control and benefit from the sharing of their data. The CDR will empower consumers to make better informed decisions and find better prices from everyday utilities to the most competitive home loans for their circumstances."

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