“Morrison says that to accommodate the AUKUS submarines deal, Australia’s defence budget will need to increase to 2.5 per cent of GDP, and there’s not much doubt he’s right. That’s an extra $10 billion or so per year, on top of a structural deficit of $50 billion a year, already rising to $70 billion. Make that $80 billion. So where is the money coming from? Tax increase or spending cuts?
Source: Budget balance: Spending like Europe means taxing like Europe
“Doing it Tough”: Defence spending spin belies deluge of dollars for multinational contractors
THE REAL NEWS
Scott Morrison spins defence spending and says contractors are “doing it tough”. The numbers show big dollars going to weapons makers from the US, France and Britain, while locally, lawyers, accountants and management consultants are in the frame. Marcus Reubenstein reports. The Prime Minister Scott Morrison and his Defence Minister Linda Reynolds trumpeted the announcement: “A $1 billion investment package to boost Australia’s defence industry and support thousands of jobs across the country.” As is de rigueur under current government/media arrangements, all the political correspondents of the mainstream media had been handed the story on a platter the day before the announcement. Moreover, the ABC’s report included the inexplicable statement that “Australia’s defence industry was struggling due to the coronavirus pandemic”.
“Doing it Tough”: Defence spending spin belies deluge of dollars for multinational contractors
One of the legacies of the Abbott era could cost Australia $500 billion over the next decade.
Source: The one very expensive Tony Abbott promise that Malcolm Turnbull is keeping
What really should be Australia’s ambitions for its military?
Source: Does Australia’s military need such tentacles of defence?
olddogthoughts 