Thursday, 13 May 2021
Questions without Notice
Economy: Digital Economy Strategy
This is a matter very close to my heart. Empowering individuals and businesses to have better control and gain benefit from their own data that's collected by industry is an important part of the Morrison government's $1.2 billion Digital Economy Strategy. One hundred and eleven million dollars will help accelerate the economy-wide rollout of the consumer data right, which will provide enormous opportunities for regtech and fintech startups to drive competition, building new products and services to help consumers manage and understand their data and get better value from product and service providers such as telcos, banks and energy companies, to save time and save money. Importantly, the consumer data right is delivered in partnership with industry and has privacy settings embedded into its design to ensure it's a safe and secure system.