The Australian Government’s $1.6 billion defence expenditure plan for the 2017-18 financial year is “realistic” and “progressive” compared to the current defence budget, an independent think tank has said.
The Defence Science and Technology Organisation (DSTO) said the plan was the most ambitious in the world and the first in Australia’s history to include a multi-billion dollar military budget.
Mr Turnbull said the Government was “well-positioned” to lead Australia into a new era of defence spending and security.
Mr Turnbull said Defence Minister Marise Payne had a “very good team” and was “doing the right things”.
“We’re not looking at this as an economic or strategic exercise,” he said.
“It’s not an exercise that’s going to take us to a certain goal, it’s not a time-limited exercise that we’re going to be undertaking.”
It is an exercise which is taking us towards a new future in defence spending.
“”A realist analysis” The Defence Science & Technology Organisation said the $1 billion in defence procurement would help Australia to be able to meet its “core defence needs”.
DSTo chief executive Peter Dickson said the budget included the most sophisticated weapons in the country’s arsenal, including the Aegis-equipped USS Lassen, the US Navy’s Tomahawk missile defence system and a new fleet of maritime patrol vessels.
The $1bn would also support Australia’s “core military needs”, he said, with the Navy planning to deploy more than 300 ships over the next decade.
A new fleet The Navy is set to invest $500 million over the life of the Navy’s new flagship ship, the Lassan, a $1,000 million vessel that will be designed to operate from Australia’s coastlines.
In the coming years, the Navy plans to add a further $200 million of the $400 million in procurement costs to the LASSAN program.
“[The Defence Budget] is a realist assessment of the future. “
Australia is not a great place to spend money, given that it’s an extremely resource-poor country,” Mr Dickson told reporters.
“[The Defence Budget] is a realist assessment of the future.
It’s not just about the next year.
It is a time to look forward to a better future.”
Mr Dickson called the $2 billion figure “realist” and said it was the largest in the Western Hemisphere.
He said it would be the largest defence budget of any country in the region.
‘A realistic analysis’The Defence Minister said the Defence Science Institute and the Defence Industry Advisory Council had both produced a “realistically based” analysis of the Defence Budget and that the Government had “substantially increased” the defence spending.
But he said the analysis had not been presented to the Government and that it would not be until a full report from the DSTO was completed.
What the Defence budget means for Australia’s economy: “If we do nothing, we’re not going to meet our core defence needs,” Mr Turnbull told reporters at a press conference in Canberra.
Australia is expected to spend $2 trillion on defence over the course of the next three years.
While the Defence Department says the Defence Strategy will be the cornerstone of the Budget, it will not be announced until at least next month.
More to come.
Topics:government-and-politics,government-ands-andorgs,budget,federal-government,government,defense-industry,africans-and—africas,australiaFirst posted September 14, 2019 11:51:16More stories from New South Wales