Budget delivers timely infrastructure, cyber and skills boost to Australian economy

13 May 2021, Macquarie Technology Group (ASX: MAQ) has welcomed the publication of the 2021-22 Federal Budget, particularly its focus on building critical infrastructure, bolstering cyber security in Australia and expanding much-needed digital skills.

Critical Infrastructure extension for cybersecurity and data centres.

“The instant asset write-off extension will be welcomed across the economy,” said David Tudehope, CEO of Macquarie Technology Group. “For our part, it will help to enable our continued investment into secure data centres, critical infrastructure which the NSW Government recently estimated will add up to $1 billion per facility in economic value.”

The company highlighted the $33.5 million afforded by the Department of Home Affairs to the acceleration of sovereign network and data security. This will accelerate the commercialisation of Australia’s sovereign network and data security, and deliver a National Data Security Action Plan co-designed with industry.

“The National Data Security Action Plan foreshadows a push to prioritise the protection of Australia’s digital sovereignty by focusing on sovereign Australian network and data,” said Tudehope.

“This aligns strongly with comments made by various ministers and senior bureaucrats in recent months. Australian providers of secure networks, cyber security, cloud and IaaS are world class and ready to support the co-design of this important initiative.”

On the investment into Australian digital skills, the company highlighted the importance in particular of the $43.8 million to expand the Cyber Security Skills Partnership Innovation Fund; the $22.6 million for the Next Generation Emerging Technology Graduates Program; and $10.7 million for the Digital Skills Cadetship Trial.

The Importance of Cyber Security Skills Partnership expansion.

“The expansion of the Cyber Security Skills Partnership is an important move which continues this Government’s focus on uplifting cyber security capability across the Australian economy. Macquarie Technology Group has been proud to support this work through its membership of the Government’s Cyber Security Industry Advisory Committee,” said Tudehope.

In delivering its Digital Economy Strategy and overall skills and training aims, Macquarie recommends a specific focus on digital sovereignty and advancing Australia’s sovereign technology sector.

“The Government should engage as much as possible with local industry to set appropriate targets for its involvement to deliver the Digital Economy Strategy, and lead by example as the largest collective buyer of ICT services,” said Tudehope.

About Macquarie Technology Group

We’re Australia’s data centre, cloud, cybersecurity and telecom company for mid-large Business and Government customers.
macquarietechnologygroup.com

Media Contacts:

Oisín O’Callaghan
Watterson for Macquarie Technology Group
+61 2 9929 7533
+61 431 612 386