The federal government will spend more than $50 million enforcing Australia’s world-first social media ban for under-16s over the next four years, as it steps up its oversight of Big Tech giants.
The new funding, revealed in the 2024-24 Mid-Year-Economic and Fiscal Outlook (MYEFO) on Wednesday, will be used for regulatory oversight of the new ban when it comes into effect in December 2025.
The investment forms part of a $76.1 million package, which builds on the $6.5 million the government set aside for an age assurance pilot in the federal Budget earlier this year.
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