Nobody expected it to rain bitcoin, but the federal budget had a big tech-shaped hole
Picture: Jon McCormack, File photo
Article Excerpt:
In the weeks leading up to the Treasurer's Tuesday speech and the traditional Thursday night sequel from Opposition Leader Peter Dutton, expectations were already hovering at basement altitude.
Both major parties have talked a big game about tech lately — keeping kids safe online, capitalising on the AI boom, protecting Australians from scams and cracking down on cybercrime, just to name a few examples.
In light of those low expectations, there's something impressive about the fact that budget week still managed to genuinely surprise and worry even the most devoted realists in the tech economy.
Tech certainly wasn't a "winner" in Labor's budget. To be fair, there were no major cuts, so it wasn't exactly a "loser" either. It's more accurate to say that tech wasn't in the race at all.
AI, cybersecurity, quantum and online safety were all ignored completely or relegated to vague mentions, with no new spending attached.
Cybersecurity was at least name-checked in the main budget overview, but only in reference to previous spending: $60 million to help small businesses protect themselves from data breaches at the hands of cyber criminals.
Evan Vougdis, one of our Cyber Directors and Cyber Threat Intelligence Practice Lead provided comment in this article:
"The Federal Budget for 2025 treats cybersecurity as background noise," said Evan Vougdis, Cyber Director at cybersecurity firm NSB Cyber.
"It's disappointing … more decisive action feels urgently needed."
Source: ABC News - Friday 28 March 2025.
Author: By national health reporter Ange Lavoipierre
Reference: Nobody expected it to rain bitcoin, but the federal budget had a big tech-shaped hole