![]() ![]() ![]() The government has not ruled out further cuts within defence to fund higher priorities. Key decisions loom when the government prepares a new national defence strategy in 2024. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup The government says this is 0.2% higher than the trajectory Labor inherited from the Coalition. This will mean defence funding reaches 2.3% of gross domestic product at the end of this 10-year period. ![]() Officials confirmed that this additional spending provision was worth $30.5bn between the 2027-33 financial years. The budget papers reveal the government “has included a spending provision in the contingency reserve for increased defence funding over the medium term to implement the defence strategic review”. Spending announced so far includes $19bn over the coming four years “for nuclear-powered submarines, long-range strike capabilities, strengthened northern bases, workforce growth and retention, innovation, and regional partnerships”.īut 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. ![]()
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