Despite some hopeful fits and starts, the U.S. economy didn't escape the doldrums in 2011. Unemployment remained stubbornly high, the U.S. debt-ceiling crisis and budget scuffles spurred more economic uncertainty, and Europe's ongoing financial problems threatened global markets. If there's an upside, at least it's familiar territory.

If we start with an oversimplified idea that "Smart Grids = Grids + ICT," then it is obvious that utilities IT budgets have a direct effect on our future achievements of a Smart Grid. However, while there is growing excitement in the market concerning new technologies, including those in the Smart Grid concept, utilities are always cautious when it comes to IT spending and have pressure to prove ROI or TCO reduction before implementing any new initiative. Utility CIOs' budgets are still subject to numerous influences, including cost containment, compliance with regulations, and maintenance of the existing infrastructure.

Incoming Minister for Finance and Deregulation Penny Wong appears to have passed responsibility for the Federal Government’s peak IT strategy group to Special Minister of State, Gary Gray.

A re-elected Gillard Labor Government will put its hand into the $1 billion dollar Gershon-funded honey pot -- a fund reserved for government Information and Communications Technology (ICT) projects -- to fund other election promises.

Worldwide enterprise IT spending across all industry markets will rise 4.1% this year, surpassing $US2.4 trillion for all of 2010, Gartner is predicting.

Gartner has revised its outlook for worldwide IT spending this year, predicting the industry as a whole will see 4.6 percent growth to $3.4 trillion, up from its previous prediction of 3.3 percent growth, according to its latest figures released Thursday.

Businesses and the public sector will begin to spend more money on technology this year, according to analyst house Forrester.

The worst is over for technology spending and the sector is set to rebound this year, according to a new report from Forrester Research.

It's official: IT budgets, once so resilient in the face of three years of worsening economic news, aren't immune to the downturn after all.

No company is immune from the economy's ebb and flow. So it's no surprise that, in the face of a fearsome downturn, IT shops are scrambling to figure out where they should cut.