The Australian Government is set to invest A$270bn ($186bn) in the Australian Defence Force (ADF) capability and infrastructure over the next ten years.
The investment has been detailed in the 2020 Defence Strategic Update 2020 and Force Structure Plan. It is intended to further boost efforts to defend and protect the country’s interests.
The update includes a new plan to manage the challenges faced by the Australian defence and increase personnel across the force.
It will also see enhanced investment to increase the role of Australian industry in Defence capability projects, resulting in the generation of new jobs.
Through this plan, the government will invest around A$1.3bn ($900,000) for the restoration of defence facilities in the Australian Capital Territory (ACT).
Australian Prime Minister Scott Morrison said: “Our new strategic defence policy ensures that the Indo-Pacific is front of mind for our ADF and is prioritised in the decisions we make on our deployments and our force structure and capabilities.
“We are also providing defence with the funding certainty it needs to deliver on our new strategic defence policy. This will ensure we are able to shape our environment, deter actions against our interests and, if required, respond with military force.
“More broadly, we are ensuring defence has more durable supply chains, while further strengthening Australia’s sovereign defence industry to create more high-tech Australian jobs and enhance the ADF’s self-reliance.”
Once implemented, the strategic update will invest to directly benefit 11,000 Australian companies in the defence industry.
Further, the supply chain will strength by employing approximately 70,000 workers.
Defence planning will prioritise respond grey-zone region challenges including the north-eastern Indian Ocean, mainland South East Asia, Papua New Guinea and the South West Pacific.
Australian Minister for Defence Linda Reynolds said: “That’s why this government will invest in more lethal and long-range capabilities to hold adversary forces and infrastructure at risk further from Australia, including longer-range strike weapons, offensive cyber capabilities and area denial capabilities.
“We will also invest in capabilities to give Australia better awareness of our region and to support regional engagement, while substantially increasing our air and sea lift capability to ensure we can rapidly respond to events across our region.
“These investments will provide significantly increased opportunity for Australia’s Defence industry, which the Morrison Government is committed to further strengthening.”