The Coalition has announced a significant increase in defence spending just days before the upcoming Australian elections, proposing an investment boost of $21 billion. This multibillion-dollar initiative aims to enhance recruitment efforts, secure additional F-35 fighter jets, and consolidate the contentious AUKUS agreement regarding nuclear-powered submarines. The federal budget will likely incur costs of between $25 billion and $30 billion annually as a result of these plans.
The Coalition projects that defence expenditure could reach 3% of Australia’s GDP within a decade, echoing former President Donald Trump’s target for the United States. Opposition Leader Peter Dutton emphasised the urgency of these measures, stating that Australians are living through the most precarious times since World War II. He accused the Labor party of neglecting defence, claiming they have cut funding, thus undermining Australia’s military capabilities.
Dutton’s proposed increase in defence outlay is set to surpass Labor’s forecast of $100 billion a year by 2034, which translates to approximately 2.33% of GDP. Shadow Defence Minister Andrew Hastie indicated they would provide a detailed cost breakdown before the election on May 3, highlighting the necessity of investing in national security amid rising authoritarian threats and global tensions, such as the situation in Ukraine.
However, this proposal has faced criticism. Defence Minister Richard Marles dismissed Dutton’s plan as a “pathetic whimper,” expressing skepticism over the trustworthiness of the Liberal party’s commitments regarding defence. He pointed out a lack of clarity in the funding sources and the specifics of how the increased expenditure would be allocated.
Marles raised concerns regarding the perceived inadequacy of the Coalition’s strategy, labelling it as devoid of a coherent defence policy. The debate surrounding this spending increase underscores the political tension in the lead-up to the elections, as both parties grapple with the implications of defence preparedness in a rapidly changing global landscape.