The new strategy to be unveiled by Richard Marles will see defence spending rise to about 2.4% of GDP – but US president has urged allies to spend 3.5%
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Labor will spend an extra $53bn on defence over the next decade, using the nation’s latest military blueprint to create new special investment programs to fund increases in capability using private capital.
The defence minister, Richard Marles, will unveil the new national defence strategy on Thursday, as well as detailing a new integrated investment program for military capability, boosting the current budget by $14bn over the next four years, forward estimates period.
