The Albanese government has landed on a definition of Australian business to reform a $75 billion procurement system that local suppliers warn is being gamed by foreign tech giants.
Details on the definition will be announced within days by Finance minister Katy Gallagher and Industry minister Ed Husic, who have consulted with the tech sector on the change.
The new Australian business definition will be used to strengthen how the government defines a small and medium sized enterprise (SME) in Commonwealth Procurement Rules, which guide around $75 billion in annual federal government purchases.
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