Defence spending gets $50 billion boost over next decade
The Australian government will invest an extra $50.3 billion into defence over the next decade as part of a long-awaited revamp of the nation's armed forces strategy.
The funding boost comes following last year's Defence Strategic Review, which argued Australia needed to modernise its current military structure it said was designed for a "bygone era".
"The optimistic assumptions that guided defence planning after the end of the Cold War are long gone," Defence Minister and Deputy Prime Minister Richard Marles said when announcing the funding boost and the National Defence Strategy this afternoon.
Australian defence spending will increase by $50 billion over the next ten years. (Department of Defence via AP)
"Our environment is characterised by the uncertainty and te...
