Australia will become more potent in the globe thanks to the Albanese Government’s Budget strategy, which includes investments in all facets of our statecraft, including diplomatic power, commerce, and development.
The 2023–24 Budget will improve Australia’s global network’s ability to influence the region and advance our interests when we are facing the most challenging circumstances in decades, notably by enhancing the capacity of our foreign service and combating misinformation.
Since taking office, the Albanese Government has invested heavily in our diplomatic efforts and important relationships, boosting DFAT’s capacity by financing more than 350 staff members across our network of embassies and bringing the Department’s personnel to its highest levels in more than ten years.
More than $55.7 million more than the forward forecasts are included in the 2023–24 budget to increase our involvement in Southeast Asia. This will be accomplished by using creative programs, such as specialized scholarships, to encourage more relationships between individuals.
The National Centre for Asia Capability (Asialink Business) will also receive support from the Albanese Government. These early investments are crucial and will support the implementation of the Government’s Southeast Asia Economic Strategy to 2040, which will be unveiled later this year.
The Government has invested $31.9 million to develop the Indo-Pacific Economic Framework, fulfilling its promise to further Australia’s trade and investment diversification drive. This regional framework will improve regional supply networks and expand Australia’s trade and economic interests, notably in digital and green trade.
Significant investment is needed in the Simplified Trade System and the Trade Information Service to assist Australian manufacturers and exporters with navigating regulatory procedures and gaining access to information on emerging markets.
After over a decade of Coalition cuts and neglect, the Albanese Government continues rebuilding Australia’s international development program with funds for DFAT to expand its team of development experts and execute an impactful program.
These steps will serve as the cornerstone of the Government’s upcoming new international development strategy and set the stage for collaboration with partners in the area to address our most urgent concerns, such as climate change.
The Albanese Government is committed to fixing the budgetary disasters left behind by the previous Administration, including a number of band-aid budget adjustments.
The Foreign Arrangements Scheme was developed to guarantee that agreements with foreign nations are consistent with Australia’s national interests. Despite the scheme’s obvious advantages, the previous Administration gave terminated money in each budget following the commencement of the program in 2020.
The Albanian Government will finance the program’s necessary legislative assessment to ensure it is operating effectively and continuing to assist its Administration.
A short-term solution implemented by the previous Administration to make up for chronic underfunding of the Department’s overseas lease payments was set to end. The Albanese government will provide continued resources to address this structural deficit.
Australia’s ageing International Communication Network infrastructure, which facilitates cross-government secure communications worldwide, will be upgraded by the Government to increase cyber threat resilience.
Through the $48 million tourist and travel package, the Albanese Government continues to assist in reviving our thriving visitor sector, our fourth-highest export earner.
With the support of this funding, the quality of Australia’s tourism services is being raised while also addressing the existing manpower deficit.
