Australia will bolster its defence force, provide more funding for its spies and help exporters find new markets in a massive push back against China.
Canberra-Beijing relations have deteriorated since last year when Prime Minister Scott Morrison called for an independent inquiry into the origins of coronavirus which was identified in the Chinese city of Wuhan.
China has blocked key Australian exports including coal, seafood, beef and barley - and has been blamed for a series of ongoing cyber attacks on Australian institutions.
Some analysts have warned there could be war in the Pacific region in the next five years if China tries to reunify Taiwan by reclaiming the self-governing island of 25 million people.
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Josh Frydenberg has zoned in on the sweet spot for this yearâs budget.
Itâs one where the political space for more fiscal largesse provided by the COVID-19 crisis â but also, paradoxically, from a stronger-than-expected Australian economic recovery from the pandemic â means he can invest more in jobs, aged care, skills, education and mental health.
It means that, broadly speaking, windfall tax receipts from iron ore prices of more than $200 per tonne and lower transfer payments resulting from a remarkable jobs recovery will be neutered by increased government spending.
Frydenbergâs fiscal âas you wereâ also means that, according to his budget, there is no need for a local increase in income taxes, such as the imposts recently announced in the US and much of Europe; hence the sweet spot.
Government launches cyber security scheme to help SMEs
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The federal government has announced a $26.5-million program aimed at strengthening the country’s cyber security capabilities, particularly within the SME sector.
Under the Cyber Security Skills Partnership Innovation Fund, grants of between $250,000 and $3 million will be provided to improve the quality and availability of cyber security professionals through training.
The fund is part of the $50-million Cyber Security National Workforce Growth Program that forms the federal government’s Cyber Security Strategy 2020.
Eligible activities may include developing and delivering specialist cyber security courses for professionals; retraining programs; professional development; apprenticeships; establishing new internships, cadetships, work experience and staff exchanges; and establishing cyber labs and training facilities.
Joint media release with Minister for Home Affairs Peter Dutton
The Morrison Government is getting more Aussies into jobs and lifting the nation’s cyber security capability, with a $26.5 million program opening today.
The Cyber Security Skills Partnership Innovation Fund will provide grants of between $250,000 and $3 million to improve the quality and availability of cyber security professionals through training.
Minister for Industry, Science and Technology Karen Andrews said the funding would help build cyber security career pathways as Australia continues its comeback from COVID-19.
“The Cyber Security Skills Partnership Innovation Fund will support partnerships between industry, education providers and governments to build the next generation of cyber security experts,” Minister Andrews said.