Jerome Laxale (Bennelong, Australian Labor Party) Share this | Hansard source

I can assure members in the chamber that none of my speech was written by a chatbot or AI. I wrote this one myself.

This is a government that's committed to delivering a robust, inclusive and sustainable future, and the digital economy is a central pillar to achieving this. Research from the industry peak body, the Tech Council of Australia, found that the tech sector contributes $167 billion per annum to the economy, it's the third-biggest industry in Australia and it employs nearly 861,000 Australians—that is, one-in-16 working Australians work in tech related employment. Since 2005, tech jobs have grown by 66 per cent compared to an average jobs growth rate of 35 per cent across the economy. By 2030, the tech sector activity has potential to contribute more GDP in Australia than primary industries or manufacturing. And tech jobs grew more than twice as fast as average employment in the last decade.

Members would be pleased to know that Bennelong is the home of tech jobs in Australia. We have one of the highest concentrations of tech workers in the country; over 18,000 men and women in Bennelong are working in the tech industry. And even within the electorate, and in particular in Macquarie Park, we have one of Australia's largest and most thriving tech economies. It's the second-largest business district in New South Wales, the eighth-largest economy in Australia, and home to tech giants like Foxtel, Optus and a swathe of medtech and pharmaceutical companies where nearly every job involves technology and digitisation.

That's something I'd like to highlight: the digital economy is here. We're living in it. You read this motion and you hear the debate from the member for Casey, the previous speaker, and you think that digitisation is something to come. The member is speaking of the digital economy like he's literally just discovered it, that he's just the tapped its potential right here in the chamber and unlocked its benefits. Thankfully, this government understands the potential of tech jobs and recognises its value in our economy today and also into the future. We know that tech jobs are well-paid jobs. We know that tech jobs are flexible jobs. And we know that we need to attract more and more tech workers to the industry and, with that, we need to train them and we need to ensure that female and First Nations participation in tech jobs are part of a vibrant tech community.

Having worked in a family-owned business for a long time, I can assure you that the digital economy is the economy. It's not something that's coming; it's not a future prospect; it's here now. We are living in it. It's part of our everyday lives. And the thriving small businesses in my electorate of Bennelong know this too. They understand that every aspect of our economy and world is driven by digital technology and they have been adapting to it for years—as we saw during the COVID pandemic.

The government understands the importance of a strong digital economy and is hard at work building the strong foundations it needs to thrive. We're investing in the digital economy and tech-enabling infrastructure. There are just a couple of things I'd like to point out, particularly for small businesses right across Australia. We will work with them to deliver these goals. We've got the technology investment boost. Businesses with an aggregated turnover of less than $50 million will be able to deduct an additional 20 per cent of the cost incurred on business expenses by depreciating assets that support digital adoption, such as portable payment devices, cybersecurity systems or subscriptions to cloud based services. This is a huge investment by the federal government in the digital economy and in helping small businesses across the nation to further invest in technology for their small business and in digitising their small business as well.

We've identified a skill shortage in the sector. So we'll also address this, with a small business skills and training boost. Those same businesses with an annual turnover of less than $50 million will be able to deduct an additional 20 per cent of expenditure incurred on eligible training courses in this space.

We know that tech jobs are good for families, with the flexibility to work from home. We know that tech jobs are well paid and attract people from all over the world. We know the job we need to do to ensure that Australia remains a place for tech companies to set up and to grow. And to claim otherwise is just simply ridiculous. The Albanese government is getting on with the job.

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