After experiencing one of the most challenging years in living memory, Australia has a unique opportunity to emerge from the pandemic-induced global recession in a strong position relative to comparable economies.
This year’s Federal Budget is designed to enable Australia to continue progressing along the road to recovery, capitalising on the opportunities and trends which will define the post-COVID era. Importantly, this includes funding for initiatives that will support an uplift in cyber security capability across the economy, including strengthening our cyber skills pipeline, and measures to harden our security where it is most vital, such as critical infrastructure.
Throughout the last year, Australian businesses have adapted and evolved in response to the unprecedented economic disruption caused by lockdowns, restrictions and other measures implemented to restrict the spread of COVID-19. Both private enterprise and government agencies have rapidly deployed remote working capabilities and increased their use of digital tools and platforms.
This trend is expected to continue across the Australian economy as both the private and public sectors leverage the momentum of digital transformation. As businesses, governments and citizens rely more heavily on digital, online solutions, the inherent level of cyber risk unavoidably increases. Enhancing Australia’s cyber security capability will be crucial to ensuring the sustainability and success of our digital economy.
Government investment in cyber security initiatives not only hardens our defences and resilience with respect to cyber risk, it also improves the confidence of business and consumers who can be empowered to embrace the opportunities of digital, while managing the risks.
So how is the Government investing in cyber security through this year’s Budget?