Telstra chief executive Vicki Brady has called on government to designate telecommunications as a priority sector for a “deep dive” on regulatory reform to make it easier and faster to build digital infrastructure.
Speaking at the National Press Club on Tuesday, Ms Brady said Australia has a narrow window of opportunity to position the country to take advantage of emerging technology – but it is closing fast and will require large-scale investment and significant coordination.
There were three critical issues that the government must address – to get the right digital infrastructure in place, to ensure Australia has adequate skills to take advantage of the new digital technology, and a regulatory approach that encouraged innovation and growth.
Ms Brady said the federal government should articulate a clear “national vision” for Australia’s digital ambitions, and then produce a national connectivity plan that would enable the telecommunications sector to align with it.
To support the government’s economic reform agenda, including boosting productivity and addressing intergenerational equity issues and drive growth, Australia needs to build significant digital infrastructure, Ms Brady said.
But it has to be the right digital infrastructure, with connectivity as its foundational backbone layer.
“We need a national digital infrastructure plan [that] the telco sector can align behind, and work with other sectors like energy to deliver.”
“It should support our shared vision and help accelerate the rollout of digital infrastructure by encouraging investment and making it easier and more efficient to build.”
Ms Brady said the telecommunications sector in Australia was the subject of 500 separate pieces of legislation and regulation, making it costly and inefficient to navigate.
“We need to look closely at how we get the balance right between providing necessary guardrails and encouraging innovation and growth that would benefit Australians,” she said.
“To do that, and because of the critical role we play for the nation, should be included as one of the government’s priority areas to deep dive on better regulation.
“There should be a target, similar to what we’ve seen applied in the United Kingdom, and so I support the [Business Council of Australia’s] call to reduce compliance costs by 25 per cent by 2030,” she said.
“Fundamentally, it means linking regulatory settings with the overarching vision for Australia’s digital future that we are trying to build.”
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