Ensuring our economic sovereignty
“Your article on digital sovereignty in Australia raises an important issue – but it doesn’t go far enough. The challenge isn’t just where our data sits; it’s where the value flows. Nearly everything we use online is controlled by global tech giants structured to minimise tax and extract wealth from Australian markets into the United States and China. The same dynamic exists across sectors like mining, oil and gas – profits leave, while Australians are left debating sovereignty in narrow terms. If we are serious about digital sovereignty, we need to broaden the conversation to economic sovereignty. This means looking at models that ensure a far greater share of revenue generated in Australia stays in Australia. Equally, we should consider ownership structures. Australia has precedent in resource sectors – why not extend similar thinking to the digital economy? Policies that prioritise majority Australian equity ownership, or at least enforce stronger local participation, would fundamentally rebalance where value is retained. Digital sovereignty without economic reform risks becoming symbolic. If we don’t address how wealth is extracted, we’re not protecting Australia – we’re simply hosting other nations’ balance sheets.”
Scott Draffin

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