Defence Spending to Increase by $50 Billion to Combat ‘Ominous’ Indo-Pacific Environment

An “unprecedented conventional and non-conventional military buildup” in the Indo-Pacific has created a risky environment where “miscalculation is more ominous,” says Australia’s Defence Minister Richard Marles. These comments have accompanied a new pledge by the Labor government to increase defence spending by an additional $50 billion (US$32 billion) over the next decade. There will also be an immediate spend of more than $1 billion to accelerate the procurement of long-range missiles and targeting systems, as well as lethal autonomous systems. In total, it means defence spending is set to rise to $100 billion a year by 2034, and will push the defence budget to 2.4 percent of GDP by 2033/34....