Expert Calls Defence Spending "Insurance Policy" as Coalition Pledges 3% GDP Target
Australia's national security landscape could see a significant shift as the Coalition announces a $21 billion boost to defence spending by 2030, aiming to increase military expenditure to 2.5% of GDP within this decade and 3% within ten years. Defence expert Jennifer Parker from the Australian National University's National Security College praised the focus on increasing defence capability while noting more details are needed on specific spending priorities amidst what she describes as "our most significant strategic time since World War II."
The Key Details:
Coalition pledges to increase defence spending to 2.5% of GDP by 2030, compared to the current government's trajectory of 2.26%
Current defence spending sits at approximately 2.03% of GDP, lower than Cold War spending levels
Parker identifies integrated air and missile defence as the top priority for new funding
Recent polling shows mixed public support, with some surveys indicating over 50% of Australians favor increased defence spending
"If we don't address our capability gaps, and that needs more money, then we are setting ourselves up for risk. We need to think about defence spending as our insurance policy," said Jennifer Parker, defence expert at the Australian National University's National Security College, in an interview with ABC's 7.30. "Investing in defence actually reduces the likelihood of a conflict or us needing to use that capability."
Why It Matters
This defence spending commitment emerges during a period of heightened global tensions, with ongoing conflicts in Ukraine and the Middle East, alongside increased Chinese military activity in Australia's region. While voters remain primarily focused on cost-of-living pressures, Parker argues that national security considerations shouldn't be overlooked, as inadequate preparedness could have "significant impacts on our security and also our economy in the future." The announcement highlights a growing debate about Australia's defence posture at a time when both major parties acknowledge strategic challenges but differ on spending priorities.
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