Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Defence aspires to drive national economic growth

defence aspires to drive national economic growth
Minister for Defence Industry Christopher Pyne delivering a speech

The government has flagged using the defence dollar as part of its vision to grow the Australian economy.

The government has flagged using the defence dollar as part of its vision to grow the Australian economy.

Speaking at a conference in Canberra, Minister for Defence Industry Christopher Pyne said the defence industry will be a key player in leading the charge to economic prosperity in Australia.

Advertisement
Advertisement

"Using the defence dollar to drive the take-up of high-technology and give new impetus to our already advanced manufacturing industries is central to our vision of a resilient future Australian economy," Minister Pyne said.

Minister Pyne stressed it is essential that defence expenditure is not localised into one state, but rather shared around the nation.

"Ensuring the benefits of this expenditure are shared nationally is also essential," he said.

SPONSORED CONTENT

 

"We want to see growth of a future economy where the impact of defence work is felt throughout Australian industry and in every corner of our nation."

Minister Pyne is confident the government will achieve its goal of defence driving the economy, with the industry already making headway in the last financial quarter.

"Already, defence industry appeared in the national accounts last quarter as being a driver of the economy," he said.

"This can only be built upon by strong strategic planning and government, defence, academia and industry working together in pursuit of a common outcome."

The Defence Industry Policy Statement, released as part of the 2016 Defence White Paper, has been cited as a key asset for achieving positive economic outcomes.

"We need to always review and adjust our approach as we seek to meet our strategic needs," Minister Pyne said.

"This is what the Defence Industry Policy Statement provides us with – the framework to strategically plan and manage industry capability and capability by Defence."

Defence aspires to drive national economic growth
C-Pyne-speech.jpg
lawyersweekly logo

more from defence connect

Mar 30 2020
US Marine Corps rebalances force to counter great power competition
US Marine Corps has released the ‘Force Design 2030’ review report outlining a major restructure...
Mar 30 2020
Does COVID-19 provide an opportunity for further geo-strategic disruption?
The advent of COVID-19 has presented a major challenge to the established global economic, political...
Mar 28 2020
BAE secures US$339m US Army armoured vehicle, munitions contract
The US Army has awarded BAE Systems a US$339 million ($556 million) contract modification for the p...
FROM THE WEB
Recommended by Spike Native Network