Canberra: The Australian government will add $1 billion Australian dollars ($630,000 USD) to its defense spending in the next federal budget earlier than planned to expedite its AUKUS commitments, Australian Defense Minister Richard Marles announced.
According to Namibia Press Agency, the Australian government has committed to a $10.6 billion increase in defense spending over the next four years. “Part of the $10.6 billion sees bringing forward an additional billion dollars, and that’s because of the need to accelerate Australia’s capability development,” Marles told reporters.
This move represents the most significant increase in defense spending in peacetime Australia since the end of World War II, the minister noted. Marles emphasized, “What this will do is see us have ready HMAS Stirling, the Henderson Defense Precinct for the establishment of the Submarine Rotational Force West. This will see us be able to move forward at a faster pace in establishing the Guided Weapons and Explosive Ordnance enterprise.”
Overall, Australia’s parliament plans to boost defense spending by $50 billion over the next decade.