Australian Budget 2023 and its impact on Defence
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.