CYBER DEFENCE RAMP-UP; ‘45M NATION'

O’Neil unveils $587 million cyber security strategy

Home Affairs Minister Clare O’Neil has released the Federal Government’s Cyber Security Strategy, committing almost $587 million until 2030 to build the nation’s cyber defences. Half of the package is directed at supporting small and medium-sized business and fighting cyber crime, including breaking the ransomware business model. A further $143 million is earmarked to strengthen critical infrastructure and uplift government cyber security. Ms O’Neil said almost $130 million would be invested in regional co-operation, cyber capacity uplift programs and leadership in cyber governance forums on the international stage. Addressing cyber safety for consumers, the Minister said $4.8 million would be spent in establishing consumer standards for smart devices and software.

Population may reach 45 million in 50 years, says ABS

Australia’s national population is forecast to reach up to 45 million by 2071, from 26 million in 2022, according to updated projections. The Australian Bureau of Statistics has projected the population to hit between 29.2 and 30.8 million people by 2032, and between 34.3 and 45.9 million people by 2071. It projects an annual growth rate of between 0.6 per cent and 1.1 per cent over the 49-year period, depending on rates of net overseas migration and of natural increase. Net overseas migration is forecast to add between 9.2 to 14.1 million people in total between 2022 and 2071. Natural increase per year (difference between births and deaths) is projected in 2071 to be between an annual decrease of 118,000 or a 104,500 increase.

Full-time work rate less than 50 per cent

More than half of Australia’s working age population did not work full-time in 2022-23, according to a report by the national statistician. The ABS report on barrier and incentives to labour force participation said that of the 18 million people aged 18 to 75, 9.1 million did not work full-time; one million people worked less than 16 hours – of whom 26 per cent wanted to work more hours. It also found that 3.1 million people did not participate in the labour force (excluding retirees and those unable to work), of whom 28 per cent wanted a job. According to the study, women cited ‘caring for children’ as the most common reason they were unavailable to start a job or work more hours within four weeks; for men, it was ‘long-term sickness or disability’.

Early university offers under review

Education Minister Jason Clare is seeking a national standard approach on the practice of early university offers, through the current Universities Accord review of higher education. Mr Clare told a higher education conference that he had instructed the Accord review panel to provide advice on early university offers, as requested by state and territory education ministers. The Minister said some universities were worried about other universities poaching their best and brightest students. In addition, some teachers were concerned that early offers caused students to “take their foot off the pedal.”  A final report of the Universities Accord will be submitted by the end of 2023.

Bowen steps up investment support for energy generation

Climate Change and Energy Minister Chris Bowen has announced the expansion of the Federal Government’s Capacity Investment Scheme to underwrite new renewable energy generation and storage. Mr Bowen said the investment would supercharge available power in the energy grid under a national transformation partnership with the states. The expansion will take the scheme from the current pilot stage to nine gigawatts of dispatchable capacity and 23 GW of variable capacity nationally, for a total of 32 GW nationally. The new 32 GW level equated to around half of the National Electricity Market with its nearly 11 million customers. Mr Bowen did not disclose the cost of the CIS contracts but noted that money would be recouped for taxpayers when revenues were high.

Resumed European free trade talks a year off

Trade and Tourism Minister Don Farrell has conceded that negotiations on a free trade agreement with the European Union have been postponed for a year, until after elections for a new European Commission. Senator Farrell told an international business lunch that recent negotiations on the free trade deal had broken down because, in his opinion, the EU was asking too much and offering too little to conclude a fair deal for both sides. But he said the EU remained an important partner and a significant market for, and investor in, Australia. Senator Farrell said he would continue to work towards a free trade deal because Australia was committed to free, open and fair trade.