Australia to increase defence spending by $53 billion over next decade

Australia has announced a significant increase in its defence budget, with plans to boost spending by $53 billion over the next ten years.

The government aims to raise defence expenditure to approximately 3% of GDP by 2033, using NATO's measurement methodology.

The announcement was made ahead of the release of the 2026 National Defence Strategy, which outlines the strategic risks facing the country and the funding required to address them.

The plan includes a $14 billion increase in defence spending over the next four years.

Defence Minister Richard Marles described the current strategic environment as the most complex and threatening since the end of World War II.

He highlighted the erosion of international norms that previously constrained the use of force and military coercion.

This increase in defence spending comes amid intensifying global risks, including ongoing conflicts in the Middle East and Ukraine, and heightened strategic competition in the Indo-Pacific region.

The government views these developments as necessitating a substantial enhancement of Australia's defence capabilities.

The new strategy also introduces an integrated investment program aimed at boosting military capability through private capital investments.

This approach includes "off budget" spending programs designed to accelerate capability development.

Despite the increase, Australia's planned defence spending will reach about 2.4% of GDP by 2033, which remains below the 3.5% target urged by the US president for American allies to reduce reliance on the United States.

The government intends to pursue all avenues to increase defence capability quickly, with the additional funding expected to be a key feature of the federal budget scheduled for 12 May.

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