Overview
- Defence Minister Richard Marles released the 2026 National Defence Strategy and Integrated Investment Program Thursday, adding A$14 billion over four years and A$53 billion over a decade with spending reported at about 3% of GDP by 2033 under a NATO-style method.
- The plan puts undersea warfare at the top of the list with AUKUS nuclear-powered submarines costed at A$71–96 billion this decade, alongside long‑range strike, integrated air and missile defence, and expanded use of autonomous systems.
- Funding will draw on higher appropriations, internal cuts of A$5 billion over four years and A$10 billion over a decade, asset sales, and for the first time private capital through Commonwealth financing bodies.
- Opposition figures label the NATO-style accounting “creative” because it counts items like veterans’ pensions, while the government says it enables fair comparisons with allies and experts note the traditional method would show a lower GDP share.
- The decade-long program totals about A$425 billion and seeks greater self‑reliance, stronger local industry and continued US alliance cooperation, with detailed budgets and acquisition schedules to flow next.