Budget: 10-year defence spending up 11 percent from 2022 plan

Summary

1. $718 billion over the next decade.
2. $96.5 billion by 2032-33, up 17.1 percent.
3. Additional $1.7 billion for shipbuilding over the next four years.
4. Annual average increase of 6.6 percent, surpassing inflation rates.
5. 2.3 percent of GDP by 2033-34.

References

• Media Check: The STRATEGIST Australian Strategic Policy Institute ASPI Australian Commonwealth-owned independent, think tank: HIGH CREDIBILITY
• Collections |The Runway (airforce.gov.au)
• RAAF RUNWAY: RATIONALE, GUIDELINES, LEARNING OUTCOMES, ETC