{"id":50524,"date":"2020-09-29T15:38:50","date_gmt":"2020-09-29T15:38:50","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=50524"},"modified":"2020-09-29T15:38:50","modified_gmt":"2020-09-29T15:38:50","slug":"business-to-get-800m-in-governments-digital-push-by-phillip-coorey","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/business-to-get-800m-in-governments-digital-push-by-phillip-coorey\/","title":{"rendered":"Business to get $800m in government&#8217;s digital push-by Phillip Coorey"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"color: #333399;\">Business to get $800m in government&#8217;s digital push-by Phillip Coorey<\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-50525 aligncenter\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/09\/Scott-Morrison.jpg\" alt=\"Scott Morrison\" width=\"619\" height=\"352\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Scott Morrison: &#8220;The plan supports Australia\u2019s economic recovery by removing outdated regulatory barriers.&#8221;\u00a0\u00a0<cite class=\"_23SOU\">Getty<\/cite><\/strong><\/span><\/p>\n<p><span style=\"font-size: 20px; color: #993300;\">Source:<\/span><span style=\"color: #000000;\"><a style=\"color: #000000; font-size: 20px;\" href=\"https:\/\/www.afr.com\/politics\/federal\/business-to-get-800m-in-government-s-digital-push-20200928-p55zuv\" target=\"_blank\" rel=\"noopener noreferrer\">AFR<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The Morrison government will pour $800 million into measures it says are designed to help businesses take advantage of digital technologies \u2013 but most of the money is dedicated to boosting its online services to facilitate doing business and to crack down on corporate fraud.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Citing a report by consultant McKinsey, which says the adoption of technology has advanced five years in just eight weeks because of COVID-19, Prime Minister Scott Morrison will provide details on the extra funding on Tuesday.<\/span><\/p>\n<section class=\"_3PsH9 _1DCKj\"><span style=\"font-size: 20px; color: #000080;\">Of the $800 million, about $420 million will be used to fulfil the 2018-19 budget promise to amalgamate the Australian Business Register and the 31 registers administered by the Australian Securities and Investments Commission &#8220;allowing businesses to quickly view, update and maintain their business registry data in one location&#8221;.<\/span><span style=\"font-size: 20px; color: #000080;\">The Australian Taxation Office will operate the new super registry, which will provide a powerful foundation to manage fraud and reduce red tape.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000080;\">Similarly, another $257 million will be used to improve access to government services by expanding the Digital Identity Program, an opt-in system that already gives 1.6 million people and 1.2 million businesses a single, secure way to use government services online.<\/span><\/p>\n<\/section>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- Responsive --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-5123580823957590\" data-ad-slot=\"7875984934\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p><!--more--><\/p>\n<aside class=\"_3-KSC\"><\/aside>\n<section class=\"ztzrw NEg98\">\n<div id=\"endOfArticle\" class=\"_3PsH9\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">As well as expanding access to services such as myGov and welfare payments, this funding will integrate the Digital Identity Program with the<a style=\"color: #000080;\" href=\"https:\/\/www.afr.com\/politics\/federal\/directors-to-get-id-number-for-life-to-thwart-phoenixing-20200612-p55218\">Director Identification Number,<\/a>\u00a0a lifetime identification number for company directors.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The DIN makes it much easier to start a business, enabling someone to do so in as little as 15 minutes, rather than weeks.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">But it has significant law enforcement implications as well \u2013 ASIC says it can be used, for example, to help stamp out &#8220;phoenixing&#8221; by tracking directors of failed companies and stopping them from popping up under false identities.<\/span><\/p>\n<blockquote class=\"_310ts\">\n<p class=\"_2cV_j\"><span style=\"font-size: 20px; color: #000080;\">This year\u2019s budget will support businesses to recover, build back and create more jobs as part of our economic recovery plan.<\/span><\/p>\n<p class=\"_81MY6\"><span style=\"font-size: 20px; color: #000080;\">\u2014\u00a0Scott Morrison<\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Phoenixing is when companies deliberately avoid paying liabilities by shutting down an indebted company and transferring the assets to another company. It costs the economy up to $5.1 billion a year.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The DIN was legislated in June with Labor&#8217;s support. It will be complemented by the establishment of the one-stop Australian Business Register.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The rest of the funding to be announced on Tuesday \u2013 just more than $120 million \u2013 will be allocated across more than a dozen new initiatives designed to help business adapt to technology.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">These range from continuing the rollout of open banking, to a $19.2 million expansion of an advisory program that helps small businesses &#8220;go digital&#8221;, to $29 million to accelerate the take-up of 5G technology and $9.6 million to promote Australian fintech in priority markets overseas.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The package will also include $3.6 million to mandate electronic invoicing for all Commonwealth agencies by July 1, 2022, making it easier and cheaper for their private sector clients.<\/span><\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- Responsive --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-5123580823957590\" data-ad-slot=\"7875984934\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The measures follow last week&#8217;s\u00a0<a style=\"color: #000080;\" href=\"https:\/\/www.afr.com\/politics\/federal\/coalition-s-4-5b-nbn-backflip-improves-sale-chances-20200923-p55ycc\">promise to boost the national broadband network by $4.5 billion<\/a>\u00a0by the end of 2023, which, if realised, would give 1.4 million businesses and 8 million households the option of high-speed fibre connections.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Mr Morrison and Treasurer Josh Frydenberg will unveil the $800 million package, which will be reconciled in the federal budget to be announced on Tuesday next week.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Outdated regulatory barriers<\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;This year\u2019s budget will support businesses to recover, build back and create more jobs as part of our economic recovery plan,&#8221; Mr Morrison said in a statement.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;Many businesses moved online quickly when the pandemic hit, undergoing a decade of change in months, finding new customers or new ways of doing things.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;The plan supports Australia\u2019s economic recovery by removing outdated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The coronavirus pandemic has reinforced the need for digital adaption as businesses have had to operate remotely and people have worked from home.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">As well as the McKinsey estimates, the government also cites a survey by the Australian Chamber of Commerce and Industry, which found in April, just as the pandemic was taking hold, that 31 per cent of Australian businesses had expanded their online presence, 25 per cent had changed their mode of delivery, and 23 per cent had diversified into new product lines and services.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Later this week, Mr Morrison will focus on budget measures to support the development of an advanced manufacturing sector.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The coronavirus pandemic has driven home the fragility of supply lines and the importance of making industrial goods locally.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Manufacturing push<\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The manufacturing push is, in part, related to Mr Morrison&#8217;s recent announcement of plans to boost the east coast gas network to expand domestic supply and drive down the price of electricity and gas.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">The Labor Party is sceptical of Mr Morrison&#8217;s epiphany on domestic manufacturing.,<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;It has taken seven years, a global pandemic and a recession to get the Morrison government to take it seriously,&#8221; the opposition spokesman for employment and industry, Brendan O&#8217;Connor, said on Monday.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;This is a government that has a poor track record when it comes to Australian manufacturing.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;They goaded Australian car manufacturers to leave our shores; they\u2019ve delivered a failed energy policy increasing the costs of manufacturing; they\u2019ve presided over the depletion of critical skills; the destruction of the viability of smaller manufacturers further down the supply chain; and the withdrawal of private capital from research and development.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">&#8220;They\u2019ve spent seven years attacking and undermining Australian manufacturing and now they want Australians to believe they support manufacturing \u2013 what a waste of years of economic growth and taxpayers\u2019 money.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Last week, Mr Frydenberg said in a speech that the government&#8217;s fiscal strategy would be split into two parts.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">At first, money would be spent to stimulate demand to create investment and jobs.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000080;\">Once the unemployment rate was &#8220;comfortably&#8221; below 6 per cent, some of these assistance measures would be withdrawn and there would be a stronger focus on debt and deficit reduction.<\/span><\/p>\n<\/div>\n<\/section>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- Responsive --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-5123580823957590\" data-ad-slot=\"7875984934\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business to get $800m in government&#8217;s digital push-by Phillip Coorey Scott Morrison: &#8220;The plan supports Australia\u2019s economic recovery by removing outdated regulatory barriers.&#8221;\u00a0\u00a0Getty Source:AFR The Morrison government will pour $800 million into measures it says are designed to help businesses take advantage of digital technologies \u2013 but most of the money is dedicated to boosting [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":50525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[13619,29697,6492],"class_list":{"0":"post-50524","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-covid-19","9":"tag-phillip-coorey","10":"tag-scott-morrison","11":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business to get $800m in government&#039;s digital push-by Phillip Coorey<\/title>\n<meta name=\"description\" content=\"The Morrison government will pour $800 million into measures it says are designed to help businesses take advantage of digital technologies\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, 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