Australia Announces Defence Budget Boost
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Australia Announces Defence Budget Boost

15 May 2008

In its recently released budget, the Australian Government says it will raise defence spending by three percent annually for the next nine years. This year's defence budget is around A$22.6bn. Defence Minister Joel Fitzgibbon says increasing underlying defence spending by an a

In its recently released budget, the Australian Government says it will raise defence spending by three percent annually for the next nine years.

This year’s defence budget is around A$22.6bn.

Defence Minister Joel Fitzgibbon says increasing underlying defence spending by an average three percent in real terms is a big boost.

“The increase will provide an extra A$2.8bn to defence over two years in 2016-17 and 2017-18 and will ensure that our soldiers have the necessary equipment, training and support they require to undertake their difficult work,” Fitzgibbon says.

The budget includes total funding of A$1.036bn to maintain overseas defence operations, A$4.8bn for current equipment procurement projects and another A$4.5bn for maintaining and upgrading existing equipment.

Equipment spending of A$45m will be moved from 2008-09 to 2013-14.

By Elizabeth Clifford-Marsh