Spending includes $19bn over four years for Australia’s nuclear-powered submarines, long-range strike capabilities and strengthened northern bases
The federal government has squirrelled away more than $30bn to lift defence funding over the coming decade, as theDefence funding as a share of the economy is expected to grow from 2.04% now to 2.3% in a decade’s time.
But overall defence funding as a share of gross domestic product is expected to remain fairly constant over the first four years, with costs ramping up after that point. The defence minister, Richard Marles, said the government had “made no secret that we are willing to make the hard decisions in order to get the best outcome for our ADF”.
But while Tuesday’s budget includes funding for some initial Aukus costs, officials included a warning about the uncertainty surrounding the complex multi-decade program.
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