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The Australian government has announced plans to bring forward $1 billion in defence funding to help bridge the gap in crucial areas, such as maritime rotational forces.
Deputy Prime Minister and Minister for Defence Richard Marles made the announcement during a media doorstop interview at Avalon Airport in Melbourne on 24 March.
“The acceleration of the $1 billion is really there to ensure that the very ambitious timelines that we have … are going to be met, and they are,” he said.
“Through AUKUS, the acquisition of a nuclear-powered submarine capability, we’re meeting and we will continue to do that through the establishment of SRF-West. And the Submarine Rotational Force – West being based at HMAS Stirling in Fremantle is scheduled to be there, the beginnings of it, in 2027. That is a really important moment, but we’re on track for that to happen.
“What we have seen with the HIMARS firstly, is the first two of the 42 here, right now [at Avalon]. The beginnings of the manufacture of guided missiles in Australia this year, that will happen.
“We will see us take possession of the first general purpose frigate this decade … Of course, perhaps the biggest of all is the acquisition of the Virginia Class submarines.”
The Deputy PM confirmed that the federal budget would include the previously announced increase in Defence spending over the forward estimates of $10.6 billion over 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. What this will do is see us have ready HMAS Stirling, the Henderson Defence Precinct for the establishment of the marine rotation force – 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,” he said.
“The $50 billion of additional funding over the 10 years is the biggest peacetime increase in Defence spending that we’ve seen in Australia since the end of the Second World War.
