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Fintech to create thousands of new jobs in Australia

Technology will underwrite new Australian jobs, but only if we are competitive, according to Senator for New South Wales, Andrew Bragg.

Senator Bragg warned that innovation was a necessity for all businesses and is not the preserve of start-ups.

“We want all business to innovate – big and small,” Senator Bragg said.

“Big is just as beautiful as small business.  We are risking our future if we discriminate in favour of either,” he said.

Senator Bragg urged Australian workers and businesses to embrace technology without fearing the loss of some traditional roles in the workforce.

“Technology actually creates jobs," he said.

“It’s not a job eater.  But this logic only applies if we are competitive as a nation.”

Senator Bragg was speaking at the Australian Chamber of Commerce and Industry in Sydney in his capacity as FinTech Senate Committee Chairman.

He said more choice for consumers would deliver better deals for the Quiet Australians.

“We have much work to do here, we must build on open banking,” Senator Bragg said.

“Open Super” is a good idea that’s time has come.

Senator Bragg emphasised Australia is very good at technology citing large tech companies like Afterpay, Atlassian, Airwallex and Wisetech who employ thousands of Australians and export all over the world.

“If we fail to deliver more “national champions” we will be forced to take whatever is developed in Silicon Valley or Singapore,” he said.

So far so good, we have been a technology world beater, but we will have to work harder in the face of ballooning R&D spending from the global tech giants.


Media: John Mangos | 0401 392 624

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