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15 May 2023

Australian Budget 2023 and its impact on Defence

Australian Budget 2023 and its impact on Defence
Defence Connect

To address the immediate priorities identified in response to the Defence Strategic Review, the Australian government has announced an investment of over $19 billion. These priorities include allocating $9 billion for the nuclear-powered submarine program through AUKUS, $4.1 billion for long-range strike capabilities, $3.8 billion for northern base infrastructure, $400 million to support Australian Defence Force personnel through a continuation bonus, and $900 million for defense innovation, which involves establishing the Advanced Strategic Capabilities Accelerator and supporting AUKUS Pillar 2.

The Australian government is focused upon the the transformation of Defence, requiring a comprehensive effort from both the government and the nation to safeguard not only the country but also its interests. Furthermore, the government has reiterated its commitment to developing a skilled defense industry workforce necessary to support key programs over the next few decades. To achieve this, $11.4 million will be allocated over three years to extend the Defence Industry Pathways Program in the shipbuilding sector of Western Australia.


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