Budget 2025: Government Moves $1 Billion in Defence Spending Forward—But Is It New Money?

Guided weapons manufacturing, an AUKUS submarine base, and a frigate program are among the initiatives set to be announced by Richard Marles during the budget.

Australia's Minister of Defence Richard Marles (C) and Minister of Defence Industry Pat Conroy (R) announce the accelerated delivery of Australia's first High Mobility Artillery Rocket System (HIMARS) at the Australian International Airshow in Avalon in Victoria, Australia on March 24, 2025. William West/AFP via Getty Images

The Australian Labor government will bring forward $1 billion in defence spending, which will be announced in the federal budget on March 25.

The revelation came during an impromptu press conference with Defence Minister Richard Marles as he visited the Avalon Air Show.