Australia’s Defence Budget Up Just 0.8 Percent in Real Terms Over the Last Decade: Analysis

While promoted by the government as a major investment—and on target to meet US expectations—in real terms, Australia’s defence budget is barely sufficient.

A nuclear propulsion Ohio class submarine, the USS Florida sails on Jan. 22, 2003 off the coast of the Bahamas. Australia as part of the AUKUS deal will get the tech for nuclear powered subs. David Nagle/U.S. Navy/Getty Images

Australia’s defence spending over the last 10 years has stagnated, and new funding commitments unlikely to make a difference for years to come, a new report says.

The federal government’s latest defence budget announcements listed an “additional $50.3 billion” of spending over the next 10 years with an “additional $10.6 billion invested over the forward estimates.”