You might think government debt is bad, but it actually plays a crucial role in modern finance. Back when he was treasurer, Peter Costello famously declared that April 21 2006 would be known as Australia’s “Debt Free Day”. On this day, he proclaimed, the Commonwealth would eliminate its net debt and “pay off the mortgage”.… Read more »
While Queensland is busy backing startups with a $130 million fund that’s luring NSW VCs north of the border, and Victoria is backing NSW startups to set up shop to the South, it’s been all quiet on the Macquarie Street front when it comes to state government support for startups. After a disappointing federal budget… Read more »
Australian eSafety commissioner Julie Inman Grant has dropped her Federal Court action against social media platform X (formerly Twitter), no doubt hoping the in the Administrative Appeals Tribunal will be as sympathetic to her arguments as a similar tribunal in Queensland. The change in strategy comes are X owner Elon Musk last month won the… Read more »
Consultation is underway on whether a range of cyber security-related jobs should be added to Australia’s skilled migration visa list, as the sector faces a widening talent gap. The federal government’s Migration Strategy, unveiled late last year, handed Jobs and Skills Australia (JSA) a formal role in developing the core skills occupations list, which will… Read more »
Last week, Science and Industry Minister Ed Husic announced with little fanfare that the position of Australia’s Women in STEM Ambassador would be discontinued, effective three days later. The role was created in October 2018 “to encourage girls and women to study and work in science, technology, engineering and mathematics (STEM) fields”. Astrophysicist Lisa Harvey-Smith… Read more »
Nearly four months after the landmark Pathway to Diversity in STEM Review, handed its final recommendations to industry and science minister Ed Husic and his department, the sector is still waiting for a formal response from the government. But this week, Husic implemented the first change in the wake of the report, calling time on the… Read more »
The Victorian government has teamed up with Swinburne University to figure out if using doctor-prescribed medicinal cannabis when driving is a problem. The $4.9 million trial to determine if medicinal cannabis users can drive safely will take place over 18-months on a closed-circuit track that mimics real-world driving conditions. Researchers will review the ability of… Read more »
The tech and talent migration programs will be scrapped and replaced with a new National Innovation Visa under major federal budget reforms that will ensure 70% of permanent migration places are set aside for skilled workers. Treasurer Jim Chalmers handed down the 2024-25 federal budget in Canberra on Tuesday night, outlining a significant overhaul to… Read more »
We now know how much the federal government is spending to bring PsiQuantum, the California-based quantum computing company with Australian founders, to Brisbane. Well, almost. The budget says $466.4 million in equity and loans from Export Finance Australia on the National Interest Account. And it seems that a fair slab is a loan “estimated to exceed… Read more »
Startup Daily’s had a look at the 2024 federal budget and has a slightly different view to the minister for industry, science and technology, Ed Husic, on what it has to offer. Like many in the sector, we’ve been waiting patiently for the moment where startups are recognised as an extraordinary opportunity by the government,… Read more »
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The third Chalmers’ budget will deliver a surplus of $9.3 billion for this financial year – the second successive surplus of the Albanese government. This will be the first time there have been back-to-back surpluses in nearly two decades. But the forecast surplus is less than the $22.1 billion last financial year. Tuesday’s budget will… Read more »
A further $288 million will be provided to the government’s digital identity scheme in the federal budget, bringing its total funding to nearly $1 billion. Treasurer Jim Chalmers will also extend the instant asset write-off test for another year, allowing tech and other businesses to immediately deduct $20,000 from eligible assets. Chalmers will hand down… Read more »
Elon Musk has won the latest round in his Federal Court fight with Australia’s eSafety Commissioner over demands that his social media company X (aka Twitter) remove footage of a bishop being stabbed in Sydney last month. The decision by Justice Geoffrey Kennett limits the powers of Commissioner Julie Inman Grant and the country’s Online… Read more »
Rumours that the federal government was looking at dramatically ramping up the thresholds to qualify for the wholesale investor test sent shockwaves through the startup sector at the start of 2024. The purported changes being considered as Treasury looked into the issue were increasing the asset threshold to $4.5 million, up from $2.5m, with the… Read more »
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