Hammond Street Developments Pty Ltd

News

25 Sep 2015

After winning the leadership ballot, Turnbull told the media that Australia needs to embrace innovation and digital disruption.  What that will most likely mean is that Startups, not small business, will likely take centre stage.

“The Australia of the future has to be a nation that is agile, that is innovative, that is creative,” Turnbull said.  “We can’t be defensive, we can’t future-proof ourselves.  We have to recognise that the disruption that we see driven by technology, the volatility in change, is our friend if we are agile and smart enough to take advantage of it.  There has never been a more exciting time to be alive.”

These are words the former communications minister has used many times before, particularly while speaking at tech startup events.

While it is early days, we can expect the new prime minister to embrace new technologies as opposed to old ones – effectively putting the mining and manufacturing sectors on notice.

Many in Australia’s tech community are coming out in support of the new Prime Minister, seeing his forward and tech facing stance as the drive for innovation that has left several key ministries struggling to employ staff and struggling to dole out the few grants they were allocated.  Many are keen to see solar technology as a key to this new government, paraphrasing the new PM himself “if we are agile and smart enough to take advantage of it.”  Others still are hoping to see the research and discovery sciences given that boost that has seen so many bright Australian minds pinched by overseas companies who know how to pay someone what they are worth.

Despite these factors, Turnbull has promised to consult widely and will need to woo the National Party if his government wants to pass anything through the Senate or Parliament with ease, as evidence by his first day in the big office.  These changes will not come quickly, but will be coming.  Any political analyst will note that the new PM’s first order of business is to shore up his support and build a base around him to drive his proposals.

The Nationals have been pushing for an effects test which essentially means bringing in a law designed to better protect farmers and small business owners from anti-competitive conduct from large companies.  This will be a tough sell to a party that has been mostly in favour with big business owners, but in order to bring Australia back from the one track economy the abandoning car manufactures have left the nation with, protecting the businesses that cannot retreat off-shore will be what makes or breaks the next election.  The Prime Minister has not commented yet on his opinions about an effects test, many have noted his background in big business as an investment banker, so the cards are even.  What is known is his deputy, Julie Bishop, is against the change.

Will the Nationals flex their political muscle and force Turnbull to back the effects test?  What technology will be given pride of the first off the mark?  As an Australian IT company, HSD will surely watch this space.

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