Australian Defence Minister Richard Marles, on Wednesday announced a 50 billion dollars Australian (32 billion dollars) defence funding boost over the next 10 years.
The spending package includes an additional 5.7 billion dollars over the next four years and an immediate injection of more than one billion dollars to speed up development of long-range missiles.
Also by targeting systems, as well as fuel resilience and robotic and autonomous systems, Marles said.
The funding also included an upgrade of Australia’s naval fleet with greater firepower and conventionally armed, nuclear-powered submarines.
The army would be given the means for greater coastal manoeuvrability with a long-range land and maritime strike capability.
The air force would be outfitted with better long-range surveillance and strike capabilities, on land, sea and air, according to the Defence Ministry.
The strategy also included a strengthened and integrated space and cyber capability, including enhanced cyber and electronic warfare.
“At a time of complex challenges and increasing uncertainty, a stronger, integrated, focused and capable Defence Force is of the upmost importance,’’ Marles said in a statement.
He said that the Canberra government’s main focus was to project defence power into the Asia-Pacific region, rather than simply protecting Australia’s borders.
Canberra’s total defence spending is expected to reach $330 billion through to 2033-34.
That incorporates initial costs of acquiring nuclear powered submarines under the AUKUS alliance with the U.S. and Britain.
The increased spending commitment under the government’s National Defence Strategy would bring defence spending to around 2.4 per cent of Gross Domestic Product by 2033-2034.
